IMF-Pakistan deal could unlock $1.21 billion

The International Monetary Fund and Pakistan have reached a provisional staff-level agreement on reviews of two lending programs that could make about $1.21 billion available to the country, subject to approval by the IMF Executive Board. The proposed financing consists of about $1 billion under the Extended Fund Facility and $210 million through the Resilience and Sustainability Facility. The IMF said the agreement covers the fourth review of Pakistan’s EFF arrangement and the third review of its RSF arrangement. If the Executive Board approves it, total disbursements to Pakistan under the two programs would rise to about $5.7 billion. The agreement does not itself authorize payment, and the reports provided do not establish that the board has approved it or that funds have been released. The review talks took place from September 23 to October 7, according to the IMF account.