IMF Agrees $1.2 Billion Loan to Pakistan

The International Monetary Fund (IMF) has announced a staff-level agreement with Pakistan that could secure a new $1.2 billion financing package under its ongoing support programmes for the country.

The fund said the deal, reached on Friday, still requires approval by its Executive Board before any funds can be disbursed.

In its statement, the IMF commended Pakistan’s authorities for what it described as a continued commitment to maintaining sound macroeconomic policies to sustain recent stability gains and advance structural reforms.

It also noted efforts to strengthen social protection systems in order to cushion vulnerable groups from the impact of fluctuating energy prices.

If approved, the package would provide Pakistan access to about $1 billion under the Extended Fund Facility, along with approximately $210 million under the Resilience and Sustainability Facility.

Pakistan remains one of the IMF’s largest borrowers globally, ranking behind only Argentina and Ukraine.