July 06, 2023 (MLN): The IMF Executive Board meeting to consider a $3 billion loan program for Pakistan will be held on July 12, the Washington-based lender said in an emailed statement to Bloomberg. 

On June 29, 2023, the long-standing Staff Level Agreement (SLA) worth $3 billion was finally signed between the International Monetary Fund (IMF) and Pakistan.

“The IMF team has reached a Staff-Level Agreement with the Pakistani authorities on a nine-month Stand-by Arrangement (SBA) in the amount of SDR2,250 million (about $3 billion or 111 percent of Pakistan’s IMF quota),” Mr. Nathan Porter who led the IMF staff team said in a statement.

PM Shehbaz Sharif said last week that Pakistan expects to receive $1.1 billion from IMF a few days after the board’s approval.

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Posted on: 2023-07-06T09:58:14+05:00