IMF’s board likey to approve $700m under SBA for Pakistan on Jan 11

ISLAMABAD: The International Monetary Fund (IMF) likely to disburse the second tranche of $700 million under the $3 billion stand-by arrangement (SBA) to Pakistan after approval by its Executive Board’s meeting scheduled for January 11, 2024.
According to IMF’s updated calendar of board meetings on its website, the next three meetings are scheduled for January 8, 10, and 11.
Pakistan is included in the board’s agenda for the January 11 meeting, which was earlier expected to take place in mid-December.
Pakistan has received $1.2 billion as the first tranche of the loan in July 2023, after signing the stand-by arrangement (SBA) in June.
The SBA aims at supporting Pakistan’s falling foreign reserves, strengthen its fiscal and monetary policies, and addressing its structural challenges.
Earlier, Pakistan and the IMF reached a staff-level agreement on the first review of the SBA in November 2023, subject to the approval of the IMF Executive Board. The agreement was based on the satisfactory implementation of the prior actions and structural benchmarks agreed upon by both sides.