April 05, 2024 (MLN): The International Monetary Fund's Executive Board Meeting on Pakistan is expected to be held by the end of April, Julie Kozack, IIMF's Director of Communications said on Thursday during a press briefing.
The staff-level agreement recognizes the strong program implementation by the State Bank of Pakistan and the caretaker government in recent months, as well as the new government's intentions for ongoing policy and reform efforts to move Pakistan from stabilization to a strong and sustainable recovery, she added.
"Pakistan's economic and financial improvement has improved since the first review was completed. Growth and confidence are continuing to recover," she further said.
The authorities have expressed interest in a successor IMF-supported program intending to resolve Pakistan's fiscal and external stability challenges and lay the foundation for inclusive growth.
"And, of course, we stand ready to engage in program discussions in the coming months," she noted.
She also informed that the IMF will release the latest growth forecasts for Pakistan as part of its World Economic Outlook.
To note, on March 19, 2024, the IMF staff and the Pakistani authorities reached a staff-level agreement on the second and final review under Pakistan's Stand-By Arrangement, SBA.
This is subject to approval by the IMF's Executive Board. Upon approval by the Board, Pakistan will have access to around $1.1 billion, and that would bring total disbursements under the SBA to about $3 billion.
