ISLAMABAD: The meeting of the IMF Executive Board on the issue of $7 billion bailout package for Pakistan is likely to be convened in the middle of August next month.
The Staff Level Agreement between Pakistan and the IMF was concluded on July 12.
Sources in the Ministry of Finance say that the IMF Board will give final approval after 4 to 6 weeks of staff-level agreement, but before the Board meeting, Pakistan will have to get assurance of external financing.
According to the sources, discussions on funding to deal with climate change and natural disaster risks are expected soon. The IMF has indicated its consideration of Pakistan’s proposed application for climate financing.
The source added that Pakistan would have to identify long-term priority projects related to climate change while the IMF’s RSF program provides affordable and long-term financing. According to the sources of the Ministry of Finance, for this purpose, we have to work together with other international organizations.
