The International Monetary Fund (IMF) is set to convene on September 25 to deliberate on the $7-billion economic support program that was previously agreed upon with Pakistan in July, according to a statement made by IMF spokesperson Julie Kozack during a scheduled press briefing. This meeting follows Pakistan’s successful attainment of financial assurances from its international development partners.
On the same day, Prime Minister Shehbaz Sharif expressed gratitude to “friendly” nations for their assistance in enabling Pakistan to meet the prerequisites for securing the IMF bailout. Additionally, central bank governor Jameel Ahmad mentioned that the government had secured external financing assurances, expressing hope that the IMF Executive Board would address Pakistan’s loan program within the current month.
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Pakistan had entered into a staff-level agreement with the IMF for a three-year program back in July, but final approval from the lender’s Executive Board is essential. It was crucial for Pakistan to confirm external financing commitments in order to overcome this hurdle. Finance Minister Muhammad Aurangzeb had also indicated earlier this month that the government was in the “advanced stages” of obtaining these important assurances.
