The International Monetary Fund (IMF) has released its meeting schedule through September 18, 2024, and Pakistan is not on the agenda. This is a setback for Pakistan, which urgently needs external funding to support its struggling economy.
According to the IMF’s website, meetings are scheduled for September 9, 13, and 18, but Pakistan’s 37-month Extended Fund Facility (EFF) of about $7 billion is not listed for discussion.
Pakistan and the IMF agreed on the new loan programme in July. This programme, once approved, is intended to help Pakistan stabilize its economy, strengthen public finances, reduce inflation, and promote growth.
IMF Mission Chief to Pakistan, Nathan Porter, stated that the programme aims to build on the macroeconomic stability achieved over the past year and foster private sector-led growth.
Meanwhile, Pakistan’s government is reportedly seeking a $12 billion loan rollover from China, Saudi Arabia, and the UAE to bolster its financial situation.