WASHINGTON DC (HRNW): The International Monetary Fund (IMF) Executive Board on Wednesday approved Pakistan’s 37-month Extended Fund Facility (EFF) arrangement of about US$7 billion, media reported citing sources.
The IMF Executive Board in its meeting considered 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 percent.
The 37-month Extended Fund Facility arrangement aims to support Pakistan’s economic stability and growth, with key policy goals including sustainable public finances, reduced inflation, and strengthened external buffers.