Pakistan has secured a 37-month loan programme with the International Monetary Fund (IMF) as of July.
The country has long depended on IMF assistance, often facing the risk of sovereign default and seeking financial support from nations like the United Arab Emirates and Saudi Arabia to meet IMF-set external financing targets.
In its statement following the staff-level agreement with Pakistan, the IMF highlighted that the new Extended Fund Facility programme is contingent upon approval from its executive board and obtaining
“Timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.”