ISLAMABAD – Pakistan and International Monetary Fund reach key agreementunder the the EFF.The Pakistani authorities and IMF staff have reached astaff-level agreement on policies and reforms needed to complete the firstreview under the EFF.
The agreement is subject to approval by IMF management and the ExecutiveBoard of Directors. Completion of the review will enable disbursement ofSDR 328 million (or around US$ 450 million) and will help unlocksignificant funding from bilateral and multilateral partners.
The IMF’s press release reads, “Despite a difficult environment, programimplementation has been good, and all performance criteria forend-September were met with comfortable margins.
“Work continues towards completing the remaining structural benchmarks forend-September. Significant progress has been made in improving the AML/CFTframework, although additional work is needed before March 2020.
International partners remain committed to supporting the authorities’reform efforts, providing the necessary financing assurances.
Read Top Stories
“On the macroeconomic front, signs that economic stability is graduallytaking hold are steadily emerging.
The external position is strengthening, underpinned by an orderlytransition to a flexible, market-determined exchange rate by the State Bankof Pakistan (SBP) and a higher-than-expected increase in SBP’s netinternational reserves.
