Washington DC October 13 2022: Finance Minister Senator Mohammad Ishaq Dar held a very productive meeting with Ms. Antoinette Sayeh, Deputy MD IMF, reported by Ministry of Finance.
Minister thanked the IMF for excellent support extended to Pakistan for macroeconomic stabilization and assured of the Govt’s commitment to implement IMF program.
Earlier, Finance Minister Senator Mohammad Ishaq Dar meets Mr. David Lipton, Counselor to the US Secretary Treasury on International Affairs in Washington. Pakistan’s Ambassador to US Masood Khan was also present during the meeting.
At the end of August 2022, the Executive Board of the International Monetary Fund (IMF) completed the combined seventh and eighth reviews under the Extended Fund Facility (EFF) for Pakistan, allowing the authorities to draw the equivalent of SDR 894 million (about US$1.1 billion).
The EFF was approved by the Executive Board on July 3, 2019 for SDR 4,268 million (about US$6 billion at the time of approval, or 210 percent of quota). In order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board approved an extension of the EFF until end-June 2023, rephasing and augmentation of access by SDR 720 million that will bring the total access under the EFF to about US$6.5 billion.
