IMF board to meet on May 9 to discuss Pakistan’s programme

The International Monetary Fund (IMF) Executive Board will meet on May 9 to discuss the country’s staff-level agreement for a new $1.3 billion arrangement under a climate resilience loan programme, along with the first review of Pakistan’s ongoing $7bn bailout programme, the global lender’s website said. According to the Fund’s website, this will be the first “review under the Extended Arrangement Under the Extended Fund Facility”. Previously, Finance Minister Muhammad Aurangzeb during his visit to Washington had said he also expected the IMF Executive Board to approve in early May. Approval from the board would trigger the disbursement of a $1bn tranche under the programme, which Pakistan secured in 2024. The IMF programme has played a critical role in stabilising Pakistan’s fragile economy, providing much-needed external financing and boosting market confidence.