IMF Board meetings schedule set without Pakistan

By Muhammad JuniadPublished On 19 Jun 2023

ISLAMABAD: The International Monetary Fund (IMF) Executive Board has issued meetings scheduled till June 29 without Pakistan as the ninth review under the Extended Fund Facility (EFF) programme still remains pending.

Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of the funds released in November – but the IMF has insisted on a number of conditions before it makes any more disbursements.

Sources privy to the development said the IMF had to meet for the release of $1.1 billion tranche under the 9th review of the EFF programme which is expiring on June 30.

Pakistani authorities are optimistic that the fund will complete the ninth review before the deadline and the meeting for the release of the tranche to Pakistan can be summoned at any time.

It may be noted that Prime Minister Shehbaz Sharif in his telephonic conversation with the IMF chief requested for the early completion of the 9th review for the release of the loan.