On November 2, an IMF Delegation Will Evaluate Pakistan's $3 Billion SBA.
On November 2, 2023, a group from the International Monetary Fund (IMF) will visit Pakistan to evaluate the country's $3 billion standby agreement (SBA), according to Esther Perez Ruiz, the IMF's resident representative, who made the announcement today.
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She stated that the mission will be led by Mr. Nathan Porter, the IMF's director.
Recall that Pakistan obtained a 9-month SBA with the IMF in July of this year, valued at a whopping $3 billion. This arrangement was reached just as the cash-strapped country was about to go into default.
IMF quickly released $1.2 billion to help shore up reserves after this deal.
It is significant to note that a $700 million installment will be possible if the impending review is successful.
