Pakistan likely to get $1.2b IMF tranche

ISLAMABAD:

The Executive Board of the International Monetary Fund (IMF) is expected to approve the third instalment of $1 billion for Pakistan under the Extended Fund Facility (EFF) programme during its meeting scheduled for December.

The Fund is also likely to provide $200 million under climate financing, which will be made available through the Climate Resilience Financing mechanism.

The staff-level agreement between Pakistan and the IMF was finalized on October 15. Officials from the Ministry of Finance are optimistic that the next instalment under the ongoing loan programme will be approved.