IMF second review under EFF is around the corner

Pakistan has been vying to get debt relief and the recent $1.4 billion RFI disbursement is additional to the $6 billion EFF to help Pakistan’s immediate efforts to COVID-19. The IMF remains closely engaged with the Pakistani authorities to bring the second review to the IMF Board as soon as possible.

The IMF Pakistan announced on its Twitter account that Extended Funded Facility remains in place.“As the crisis abates, the authorities’ renewed commitment to the reforms in the existing Extended Fund Facility—in particular those related to fiscal consolidation strategy, energy sector, governance, and remaining AML/CFT deficiencies—will be crucial to entrench resilience, boost Pakistan’s growth potential, and deliver broad-based benefits for all Pakistanis.”, stated Mr. Geoffrey Okamoto, First Deputy Managing Director and Acting Chair while approving additional funding under RFI.

He further stated, “Expeditious donor support is needed to close the remaining balance of payments gap and ease the adjustment burden.”