IMF allows immediate disbursement of $700 million to Pakistan

IMF Pakistan

ISLAMABAD: Pakistan’s Ministry of Finance announced on Thursday night that the International Monetary Fund (IMF) Executive Board has concluded the first review of the $3-billion Stand-By Arrangement. This paves the way for an immediate disbursement of $700 million to Pakistan.

“The Executive Board of the International Monetary Fund (IMF) completed the 1st review and allows for an immediate disbursement of SDR 528 million (around US$ 700 million) bringing the total disbursements under the SBA to US$ 1.9 billion,” read the tweet of ministry of finance.

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The latest development follows the agreement between the IMF and Pakistani authorities reached on November 15, marking a staff-level consensus on the initial review within the Stand-By Arrangement (SBA). The current IMF programme is set to conclude in the second week of April. The initial tranche of $1.2 billion was disbursed by the Fund in July 2023.

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