Pakistan, IMF begin second review of stand-by arrangement

March 14, 2024 (MLN): Pakistan and the International Monetary Fund (IMF) have commenced the second review of the Stand-By Arrangement signed on June 30, 2023, as disclosed in a press release issued by the Ministry of Finance.

An IMF mission called on the newly elected Federal Minister of Finance and Revenue, Muhammad Aurangzeb in the Ministry of Finance today.

Muhammad Aurangzeb welcomed the mission and expressed the government's commitment to working with IMF on the reform agenda for economic growth and stability of Pakistan.

During the meeting, discussions were held on the overall macroeconomic indicators, the government's efforts on fiscal consolidation, structural reforms, energy sector viability, and SOE governance.

Pakistan has met all Structural Benchmarks, Qualitative Performance Criteria and Indicative Targets for the successful completion of the IMF review, as per the finance division.

It is worth highlighting that this would be the final review of SBA, and staff-level agreement is expected after this appraisal.

Once Staff level agreement is reached, the final tranche of $1.1 billion will be disbursed, following the approval of the Executive Board of IMF.

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