KARACHI: The State Bank of Pakistan (SBP) has announce on Wednesday that it has received second tranche of $1.023 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme.
prior to that IMF executive board complete the first review the EFF arrangement, allocating $ 1billion to Pakistan government.
The IMF executive board also approves the Pakistani request for an arrangement under the Resilience and Sustainability Facility (RSF), which is used to support Pakistan’s initiatives in building economic resilience to climate vulnerabilities and natural disasters.
Pakistan is holding talks with the IMF on its upcoming annual budget. The virtual talks, being held on May 14 (today) will focus on the budgetary framework, including proposed revenue targets and expenditure estimates.
Moreover, the IMF team is initiating its discussion with Pakistan today on the upcoming budget for the 2025-26 fiscal year.
Pakistan Finance Minister, while talking to Reuters, said that the federal budget is expected to be tabled within the next three to four weeks in the national assembly, while the negotiations with the IMF are set to continue to May 23.
The IMF team will discuss budget expenses, revenue targets, while Pakistani authorities are likely to provide updates on their economic initiatives, energy sector reforms, and other economic-related topics.
