WASHINGTON DC: The International Monetary Fund (IMF) Executive Board approved Pakistan’s 37-month Extended Fund Facility (EFF) arrangement of about US$7 billion.
The IMF Executive Board in its meeting viewed Pakistan’s request for an Extended Arrangement under the Extended Fund Facility.
Pakistan would receive an initial installment of US$1.1 billion by September 30, with the loan carrying an interest rate below 5%.
The 37-month Extended Fund Facility arrangement targets to support Pakistan’s economic stability and growth, with key policy goals including sustainable public finances, mitigated inflation, and strengthened external buffers.
Earlier on September 13, Finance Minister Muhammad Aurangzeb announced that all matters with the IMF have been settled amicably, stating, “Alhamdulillah, the Prime Minister is grateful to the IMF negotiation team and related institutions.”
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