IMF Approves $1.32 Billion for Pakistan After Third EFF Review

The IMF Executive Board completed the Third Review of Pakistan's Extended Fund Facility (EFF) arrangement and Second Review of the Resilience and Sustainability Facility (RSF), approving approximately $1.1 billion (EFF) and $220 million (RSF) for a combined total of ~$1.32 billion. This brings Pakistan's cumulative IMF disbursements under the current programs to approximately $4.8 billion. The IMF credited Pakistan's 'strong implementation' of structural benchmarks including tax revenue measures and energy sector pricing adjustments. Risks flagged included Middle East conflict spillover and the need to sustain exchange rate flexibility. Pakistan has now received IMF bailouts under 24 separate programs since 1958.