*ISLAMABAD: In a breakthrough, Pakistan and the International Monetary Fund(IMF) reached a staff-level agreement over the revival of the Extended FundFacility (EFF) programme, ARY News reported on Wednesday quoting financeministry sources.*
A well-placed source within the Ministry of Finance has told ARY News thatan agreement has finally been reached with IMF and the lender will releasean official statement regarding the deal this evening.
“The first tranche is expected to be SDR894 million, equal to $1.2 billion.The program has been extended till July 2023, and total program sizeincreased by $1bn to $7bn,” they said.
Last month, Pakistan received the Memorandum of Economic and FinancialPolicies (MEFP) from the International Monetary Fund (IMF) for the seventhand eighth reviews.
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This was confirmed by Finance Minister Miftah Ismail on his officialTwitter handle. The MEFP is a document that contains details regardingstriking a staff-level agreement.
