Islamabad July 14 2022: Pakistan and the International Monetary Fund (IMF) have reached an agreement on policies to complete the combined seventh and eighth reviews of Extended Fund Facility (EFF).
Under the agreement, Pakistan would receive $1.17 billion soon, tweeted Federal Minister for Finance and Revenue, Miftah Ismail here Thursday.
The Minister thanked Prime Minister, fellow ministers, secretaries and especially the finance division for their help and efforts in obtaining this agreement.
In order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board will consider an extension of the EFF until end-June 2023 and an augmentation of access by SDR 720 million that will bring the total access under the EFF to about US$7 billion.
