The International Monetary Fund’s Executive Board is scheduled to convene on January 11 to discuss the staff-level agreement for the initial review under Pakistan’s Stand-By Arrangement (SBA), as per Bloomberg’s recent report.
In November, collaboration between IMF representatives and Pakistani authorities led to a staff-level agreement for the first review within Pakistan’s Stand-By Arrangement (SBA). Upon endorsement, Pakistan is poised to gain access to SDR 528 million, equivalent to approximately $700 million. This would augment the total disbursements to nearly $1.9 billion under the program.
Caretaker Federal Minister for Finance, Dr. Shamshad Akhtar, expressed optimism in a recent interview, anticipating the IMF Executive Board’s meeting in early December to evaluate the staff-level agreement.
Dr. Akhtar not only foresees the infusion of $700 million from the fund but also believes that the SBA approval will act as a catalyst, unlocking financial support from other multilateral institutions amounting to $1.5 billion.