ISLAMABAD – International Monetary Fund (IMF) approved release of the next $1.2 billion installment for the country, providing a fresh financial boost under ongoing support programs.
IMF Executive Board formally approved the tranche during a meeting held in Washington, clearing the way for the disbursement of funds to Pakistan on Friday.
Under Extended Fund Facility (EFF) program, Pakistan is set to receive $1 billion as part of the latest installment. In addition, $200 million will be released under the Resilience and Sustainability Facility (RSF), aimed at supporting climate change-related initiatives and strengthening long-term economic resilience.
The approval is major milestone in Pakistan’s engagement with the global lender, as the country continues to rely on external financial assistance to stabilize its economy.
The $7 billion EFF program is structured over a period of 37 months, making this latest approval a key step in the ongoing arrangement.
More updates to follow…
