Pakistan to get $2.3b following staff level agreements: IMF

ISLAMABAD: The Director of the International Monetary Fund’s (IMF) Communications Department, Ms. Julie Kozack, has stated that Pakistan will gain access to a total of $2.3 billion through the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) after the finalization of staff-level agreements.

During a media briefing at the IMF Headquarters in Washington, she mentioned that on September 25 last year, the IMF Executive Board approved a $7 billion Extended Fund Facility program for Pakistan, spanning 37 months.Maldives Chief of Defence Staff Meets Pakistan’s Joint Chiefs Chairman

She further highlighted that a staff-level agreement for the First Review was reached on March 25 this year. On the same day, another staff-level agreement was also concluded regarding the Resilience and Sustainability Facility (RSF).

Ms. Kozack elaborated that under the Extended Fund Facility, Pakistan will receive $1 billion after the formal approval by the IMF Executive Board as part of the First Review.

Likewise, under the Resilience and Sustainability Facility, Pakistan will be allocated $1.3 billion following the IMF Executive Board’s approval.