Pakistan’s 37-month EFF of about $7bn on the agenda is not included
New York: The International Monetary Fund (IMF) has not included Pakistan on the agenda of its Executive Board calendar meetings scheduled till September 18, the Fund's website shows.
The global lender updated the schedule of the executive board meeting set to be held on September 9, 13 and 18, but Pakistan’s 37-month Extended Fund Facility Arrangement (EFF) of about $7 billion on the agenda is not included.
In the first quarter of this calendar year, Pakistan successfully completed the IMF Standby Arrangement (SBA) of $3 billion to build sliding foreign exchange reserves and reduce pressure on its external accounts.
Sources say that the staff-level agreement between Pakistan and the IMF was signed on July 12 this year, but Pakistan is still facing difficulties in meeting the $2 billion external financing gap.
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