TIL Desk/World/Islamabad/ The International Monetary Fund has said it has reached a staff-level agreement with the Pakistani authorities “on policies and reforms” needed to complete the second review of the $6 billion loan approved for the cash-strapped country to help its fragile economy, a media report said on Friday.
In July last year, the IMF executive board “approved a 39-month extended arrangement” under the Extended Fund Facility for Pakistan for $6 billion to support its economic reform programme. Pakistan’s finance ministry approached the IMF in August 2018 for a bailout package when the Imran Khan government took over.
“IMF staff and the Pakistani authorities have reached a staff-level agreement on policies and reforms needed to complete the second review of the authorities’ reform programme supported under the EFF,” IMF’s Mission Chief for Pakistan Ernesto Ramirez Rigo said.
