{"id":27338,"date":"2023-11-22T22:36:04","date_gmt":"2023-11-22T22:36:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/imf-board-likely-to-approve-staff-level-agreement-with-pakistan-on-dec-7\/"},"modified":"2023-11-22T22:36:04","modified_gmt":"2023-11-22T22:36:04","slug":"imf-board-likely-to-approve-staff-level-agreement-with-pakistan-on-dec-7","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/imf-board-likely-to-approve-staff-level-agreement-with-pakistan-on-dec-7\/","title":{"rendered":"IMF board likely to approve staff-level agreement with Pakistan on Dec 7"},"content":{"rendered":"
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ISLAMABAD: The International Monetary Fund (IMF) executive board likely to approve the staff-level agreement with Pakistan on December 7, ARY News reported citing sources.<\/strong><\/p>\n

According to sources, the IMF executive board meeting will likely be held on December 7 and is expected to consider Pakistan\u2019s case in the meeting.<\/p>\n

Sources said that after the approval from IMF\u2019s Executive Board around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.<\/p>\n

Pakistan is also likely to receive $ 1 billion from gulf countries and $ 1.2 billion from Exim Bank whereas China has assured debt rollover for further two years.<\/p>\n

On November 16, Pakistan and International Monetary Fund (IMF) reached a staff-level agreement on the first review under Pakistan\u2019s Stand-By Arrangement (SBA).<\/p>\n

This was disclosed in a statement issued by the IMF at the conclusion of delegation-level talks between the two sides in Islamabad.<\/p>\n

Read more: Pakistan reaches staff-level agreement with IMF for second tranche<\/a><\/strong><\/em><\/p>\n

The agreement supports the authorities\u2019 commitment to advance the planned fiscal consolidation, accelerate cost-reducing reforms in the energy sector, complete the return to a market-determined exchange rate, and pursue state-owned enterprise and governance reforms to attract investment and support job creation, while continuing to strengthen social assistance.<\/p>\n

It is pertinent to mention here that Pakistan is operating under a caretaker government after an IMF loan programme, approved in July, helped avert a sovereign debt default.<\/p>\n

Under the $3 billion standby arrangement (SBA), Pakistan received $1.2 billion from the IMF as the first tranche in July.<\/p>\n

Last week, an IMF mission kicked off its review for the second loan tranche, which is expected to continue till Dec 15. A successful review would unlock $710 million for the country in December.<\/p>\n<\/div>\n<\/div>\n