IMF board set to wield $700 million hammer on January 11

In a pivotal development for Pakistan's economic landscape, the International Monetary Fund (IMF) has slated a board meeting for January 11, 2024, according to the recently released IMF Executive Board calendar.

This crucial meeting is poised to mark the approval stage for the second tranche of $700 million within the existing loan program. The inclusion of Pakistan in the meeting agenda underscores the significance of the financial deliberations set to take place.

Worth noting is the staff-level agreement reached between the IMF and Pakistani authorities on November 15. This agreement pertains to the first review under Pakistan's Structural Adjustment Program (SBA) and is contingent upon approval by the IMF's Executive Board.

Upon successful approval during the upcoming meeting, the total disbursements under the program are anticipated to soar to almost $1.9 billion. This financial injection is expected to play a pivotal role in supporting Pakistan's economic initiatives and addressing fiscal challenges.

The decision holds substantial implications for the country's economic trajectory, and stakeholders keenly await the outcome of the IMF board meeting. The IMF's involvement continues to be a focal point in discussions surrounding Pakistan's economic stability and growth prospects.