Mohsin Siddiqui (Chief Reporter)

The IMF Executive Board plans the first review under Pakistan’s $3 billion stand-by arrangement on January 11, 2024. IMF Resident Representative Esther Perez Ruiz confirmed this development.

Esther Perez Ruiz said, “The IMF’s Executive Board Meeting will review Pakistan’s Stand-By arrangement on January 11, 2024.”

IMF officials praise Pakistan’s economic improvement, stating the country’s future is ‘very bright.’

The $3 billion program, ending in April 2024, has $1.8 billion remaining. The IMF disbursed $1.2 billion in July, aiding Pakistan’s economic stability.

A staff-level agreement on the first review was reached on November 15, pending approval by the IMF’s Executive Board.

Upon approval, Pakistan gains access to SDR 528 million (around US $700 million), boosting economic stability.

Esther Perez Ruiz’s announcement signals approval from the IMF’s Executive Board, crucial for unlocking the remaining $1.8 billion.

IMF’s acknowledgment of Pakistan’s ‘very bright’ future reflects successful economic policies, fostering global confidence.

As the program concludes in April 2024, remaining funds contribute significantly to sustained economic growth.

The staff-level agreement in November showcases commitment to fiscal responsibility and structural reforms.

Upon Executive Board approval, SDR 528 million injection reinforces Pakistan’s fiscal position, supporting development initiatives.

In summary, the IMF Executive Board’s January 11 review is pivotal, indicating sustained growth and stability for Pakistan. Approval and fund disbursement are crucial for advancing the economic agenda, emphasizing continued collaboration between Pakistan and the IMF.