The International Monetary Fund (IMF) Executive Board will meet on July 12 to approve the disbursement of a $1.1 billion initial tranche for Pakistan under the lender’s $3 billion Standby Agreement (SBA) with the cash-strapped country.
IMF Board Meeting
Pakistan has been assured of $6 billion in external financing for 2023-24, with $1.1 billion arriving this month under the Fund’s SBA arrangement. Pakistan has most likely identified all priority points and will now put them into action.
According to the International Monetary agreement, the market will determine currency exchange rates, and no additional grants will be authorized beyond the fiscal year budget. Overall, the SBA agreement requires the federal government to meet all key objectives.
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