ISLAMABAD: The International Monetary Fund (IMF) Executive Board is expected to convene in mid-August to discuss the $7 billion bailout package for Pakistan. A staff-level agreement between Pakistan and the IMF was reached on July 12.
Sources inside the Ministry of Finance indicate that the IMF board is expected to give its final approval within four to six weeks following the staff-level agreement.
However, they added that Pakistan must secure external financing assurances before the board meeting.
Discussions on funding to address climate change and natural disaster risks are anticipated soon.
The IMF has indicated consideration of Pakistan’s proposed request for climate financing.
Sources further disclosed that Pakistan must identify long-term priority projects related to climate change.
The IMF’s Resilience and Sustainability Facility (RSF) programme offers affordable, long-term financing.
To achieve these goals, Pakistan will need to collaborate with other global institutions, according to the Ministry of Finance. –Agencies
