Pakistan has received commitments for additional financial support from China, Saudi Arabia, and the United Arab Emirates (UAE) in connection with a new International Monetary Fund (IMF) program. This support goes beyond a deal to roll over $12 billion in bilateral loans owed to these countries. IMF Pakistan Mission Chief Nathan Porter declined to disclose specific amounts but stated that the commitments from the three countries are significant and are part of the new IMF program. The IMF’s Executive Board has approved a new $7 billion, 37-month loan agreement for Pakistan, with an immediate $1 billion disbursement. Porter noted Pakistan’s remarkable economic progress, including reduced inflation, stable exchange rates, and doubled foreign reserves.

The focus now is on sustaining growth by maintaining consistent monetary, fiscal, and exchange rate policies, increasing tax revenue, and enhancing public spending. The IMF’s next review of the loan is expected in March or April 2025 based on performance criteria. IMF Managing Director Kristalina Georgieva described her meeting with Prime Minister Shehbaz Sharif as “very productive.”