ISLAMABAD – The approval of the $7 billion loan program for Pakistan by the International Monetary Fund (IMF) has faced further delays.
The IMF Executive Board on Wednesday released the calendar for additional meetings in September, including meetings scheduled for September 9 and 13.
However, Pakistan’s agenda is not included in these meetings.
The IMF Executive Board meeting on September 9 would discuss Bhutan’s case, while the September 13 meeting would cover Norway’s case.
A staff-level agreement between Pakistan and the IMF was reached on July 12.
According to the sources, Pakistan is still struggling to bridge the external financing gap, and Pakistan’s agenda is likely to be included once the preconditions are met.
The sources from the Ministry of Finance expressed optimism that the federal government would fulfill all of the IMF’s conditions.
The Finance Minister also stated that the process to bridge the external financing gap is in its advanced stages, and approval of the loan program from the IMF is expected this month.
