IMF Executive Board Will Review Pakistan’s $7B Loan Program on This Date

ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on May 9, 2025, to consider Pakistan’s first review under the $7 billion Extended Fund Facility (EFF) and a new $1.3 billion Resilience and Sustainability Facility (RSF) arrangement.

According to the IMF’s website, the agenda includes the first review under the EFF program, a request for modification of performance criteria, and a request for an arrangement under the RSF. If approved, Pakistan will receive access to approximately $1 billion (SDR 760 million) under the EFF, raising total disbursements under the facility to around $2 billion. In addition, the country would unlock $1.3 billion under the RSF — a climate-focused loan program spanning 28 months.

Staff-Level Agreement Reached in March 2025

An IMF mission led by Nathan Porter held discussions with Pakistani authorities between February 24 and March 14, 2025, in Karachi and Islamabad, followed by virtual meetings. These consultations reviewed Pakistan’s economic performance under the EFF and explored the framework for the new RSF arrangement.

On March 25, 2025, Pakistani authorities and the IMF team reached a staff-level agreement on a wide-ranging reform program supported by both the federal and provincial governments. The deal paves the way for a 37-month EFF arrangement worth $7 billion.

According to the Fund, the program aims to build on Pakistan’s hard-won macroeconomic stability achieved over the past year. It focuses on strengthening public finances, reducing inflation, rebuilding external buffers, and removing structural economic distortions to support private sector–driven growth.

The IMF Executive Board’s decision on May 9 will play a pivotal role in shaping Pakistan’s economic outlook and advancing its efforts toward long-term fiscal and climate sustainability.