Pakistan 'well positioned' for 1st review of $7bn IMF bailout: FinMin
MG News | March 04, 2025 at 10:51 PM GMT+05:00
March 04, 2025 (MLN): Pakistan was "well positioned" for the first review of its $7 billion International Monetary Fund (IMF) bailout program, said Finance Minister Muhammad Aurangzeb.
Islamabad secured the $7bn Extended Fund Facility last summer to help claw its way out of an economic crisis, with an immediate disbursement of about $1bn, according to Reuters.
"The ongoing review will be critical in determining how the economy moves forward," Reuters further added.
Pakistan was running an estimated Rs600bn ($2.15bn) shortfall to meet a Rs1.3tr tax revenue collection target set in its June 2024 budget, said a finance ministry official.
The IMF team usually spends around two weeks reviewing fiscal reforms and policy.
A separate IMF team was in Pakistan last week to discuss around $1bn in climate financing on top of the Extended Fund Facility.
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