(Reuters) -The International Monetary Fund said on Tuesday it has reached a staff-level agreement with Pakistan on its loan programme, which would allow the country to access $1.2 billion after a review.
Subject to a board review, the IMF will provide Pakistan $1 billion under its Extended Fund Facility and $200 million under its Resilience and Sustainability Facility, bringing total disbursements under the two arrangements to about $3.3 billion.
Pakistan’s finance minister, Muhammad Aurangzeb, said earlier on Tuesday that the country was set to sign a preliminary deal with the IMF, a key step to securing more funding from the lender.
An IMF team left Pakistan last week without signing staff-level agreements on reviews of its two main support programmes which are worth a combined $8.4 billion.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Stephen Coates)
Comments