According to the premier, the government is fully committed to the ongoing Extended Fund Facility (EFF), which expires this month.

Although all prior actions for the 9th Review have been completed, we are willing to take further steps with the IMF. “Pakistan eagerly awaits approval of the 9th Review by the IMF Board as soon as possible,” said the Prime Minister.

As Pakistan has met all requirements, the PM met with the MD of the IMF earlier today and requested that the lender unlock stalled funds.

During the meeting, the prime minister assured the IMF of the country’s commitment to fulfill all promises made in this regard during the Summit for a New Global Financial Pact in Paris.

Pakistan and the Wasington-based lender discussed ongoing programmes and cooperation.

Georgieva received an update on Pakistan’s economic outlook during their last telephone conversation.

During the 9th review under the EFF, he stressed that Pakistan had completed all its prior actions and was fully committed to meeting its obligations.

Prime Minister Narendra Modi expressed hope for a timely release of funds allocated under the EFF. As a result, Pakistan’s ongoing efforts to stabilize its economy would be strengthened and the people would be relieved.”

Georgieva responded to the ongoing review process by sharing her institution’s perspective.

As a result of the meeting, we were able to assess the progress made in this area.

Only one month’s worth of imports can be covered by Pakistan’s currency reserves. Before it makes any more disbursements, the IMF has imposed several conditions on the release of the funds.

Pakistan had only one last IMF board review before the $6.5 billion EFF ended, which meant Pakistan had to present a budget in line with programme objectives, restore proper FX market functioning, and close the $6 billion gap before the board meeting.