ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have begun discussions for the latest review of the country’s economic programme, with Finance Minister Muhammad Aurangzeb participating in a virtual kick-off meeting with the IMF mission.
The IMF mission, led by Iva Petrova, is holding talks with Pakistani authorities on the fourth review of the $7 billion Extended Fund Facility (EFF) and the third review of the $1.4 billion Resilience and Sustainability Facility (RSF).
According to sources, Finance Minister Muhammad Aurangzeb participated in the kick-off meeting, during which Pakistan’s economic and financial situation was discussed. The finance minister also briefed the IMF team on the government’s progress towards economic stabilisation and implementation of reforms.
Pakistan and IMF Begin Latest Economic Review Talks
The two sides reviewed Pakistan’s progress against the targets set under the IMF programme. Discussions covered the country’s economic performance, fiscal position and implementation of agreed reforms.
The Pakistani economic team also discussed measures being taken to maintain macroeconomic stability, improve revenue collection and strengthen fiscal discipline.
Sources said the talks will continue in the coming days, with the IMF mission expected to hold detailed discussions with relevant Pakistani authorities on economic and financial measures.
What Was Discussed in the Kick-Off Meeting?
The meeting focused on Pakistan’s performance under the ongoing IMF programme and the progress made towards meeting agreed targets.
The two sides also discussed the government’s reform agenda, revenue mobilisation, fiscal management and measures aimed at maintaining economic stability.
Further discussions are expected to examine available economic data and Pakistan’s compliance with commitments agreed under the IMF programme.
Pakistan’s Economic Performance and Reform Progress
Pakistan has been implementing a 37-month IMF Extended Fund Facility programme approved in September 2024. The programme is designed to support macroeconomic stability while advancing reforms in areas including taxation, public finances, the energy sector and the broader economy.
The IMF has also been reviewing Pakistan’s commitments under the Resilience and Sustainability Facility, which focuses on reforms related to climate resilience and longer-term economic sustainability.
How Much IMF Funding Could Pakistan Receive?
Successful completion of the ongoing reviews could pave the way for Pakistan to receive around $1.2 billion in combined financing, including approximately $1 billion under the EFF and around $200 million under the RSF.
However, the amount should not be described as an approved or released tranche at this stage. Any disbursement will depend on the outcome of the reviews and the IMF’s subsequent approval process.
Remember That: Pakistan Is Still Under the $7 Billion IMF Programme
Pakistan entered the current $7 billion IMF Extended Fund Facility programme in September 2024. The programme runs for 37 months and includes a series of scheduled reviews linked to specific economic and structural targets.
The IMF’s previous completed review was the third EFF review and second RSF review. In May 2026, the IMF Executive Board approved the completion of those reviews, allowing Pakistan access to additional financing under the two facilities.
The previous review brought total disbursements under the EFF and RSF arrangements to around $4.8 billion.
Clearly Note That: $1.2 Billion Has Not Yet Been Approved
The $1.2 billion should not be treated as money already received by Pakistan.
The current discussions are part of the review process. Pakistan would become eligible for the related financing only after the required reviews are successfully completed and the IMF’s Executive Board approves the release of funds.
Therefore, the current development is the start of the latest review talks, rather than confirmation that the $1.2 billion has already been approved or transferred to Pakistan.
What Happens After the IMF Review?
The IMF mission will continue discussions with Pakistan’s economic authorities and examine the country’s performance against the programme’s agreed targets.
If the review is successfully completed, the matter can move towards the IMF’s Executive Board approval process. Any resulting disbursement would then be made in accordance with the IMF programme arrangements.
For Pakistan, the ongoing review is also significant because continued implementation of the IMF programme remains linked to efforts to maintain economic stability, strengthen public finances and advance structural reforms.
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have begun discussions for the latest review of the country’s economic programme, with Finance Minister Muhammad Aurangzeb participating in a virtual kick-off meeting with the IMF mission.
The IMF mission, led by Iva Petrova, is holding talks with Pakistani authorities on the fourth review of the $7 billion Extended Fund Facility (EFF) and the third review of the $1.4 billion Resilience and Sustainability Facility (RSF).
According to sources, Finance Minister Muhammad Aurangzeb participated in the kick-off meeting, during which Pakistan’s economic and financial situation was discussed. The finance minister also briefed the IMF team on the government’s progress towards economic stabilisation and implementation of reforms.
Pakistan and IMF Begin Latest Economic Review Talks
The two sides reviewed Pakistan’s progress against the targets set under the IMF programme. Discussions covered the country’s economic performance, fiscal position and implementation of agreed reforms.
The Pakistani economic team also discussed measures being taken to maintain macroeconomic stability, improve revenue collection and strengthen fiscal discipline.
Sources said the talks will continue in the coming days, with the IMF mission expected to hold detailed discussions with relevant Pakistani authorities on economic and financial measures.
What Was Discussed in the Kick-Off Meeting?
The meeting focused on Pakistan’s performance under the ongoing IMF programme and the progress made towards meeting agreed targets.
The two sides also discussed the government’s reform agenda, revenue mobilisation, fiscal management and measures aimed at maintaining economic stability.
Further discussions are expected to examine available economic data and Pakistan’s compliance with commitments agreed under the IMF programme.
Pakistan’s Economic Performance and Reform Progress
Pakistan has been implementing a 37-month IMF Extended Fund Facility programme approved in September 2024. The programme is designed to support macroeconomic stability while advancing reforms in areas including taxation, public finances, the energy sector and the broader economy.
The IMF has also been reviewing Pakistan’s commitments under the Resilience and Sustainability Facility, which focuses on reforms related to climate resilience and longer-term economic sustainability.
How Much IMF Funding Could Pakistan Receive?
Successful completion of the ongoing reviews could pave the way for Pakistan to receive around $1.2 billion in combined financing, including approximately $1 billion under the EFF and around $200 million under the RSF.
However, the amount should not be described as an approved or released tranche at this stage. Any disbursement will depend on the outcome of the reviews and the IMF’s subsequent approval process.
Remember That: Pakistan Is Still Under the $7 Billion IMF Programme
Pakistan entered the current $7 billion IMF Extended Fund Facility programme in September 2024. The programme runs for 37 months and includes a series of scheduled reviews linked to specific economic and structural targets.
The IMF’s previous completed review was the third EFF review and second RSF review. In May 2026, the IMF Executive Board approved the completion of those reviews, allowing Pakistan access to additional financing under the two facilities.
The previous review brought total disbursements under the EFF and RSF arrangements to around $4.8 billion.
Clearly Note That: $1.2 Billion Has Not Yet Been Approved
The $1.2 billion should not be treated as money already received by Pakistan.
The current discussions are part of the review process. Pakistan would become eligible for the related financing only after the required reviews are successfully completed and the IMF’s Executive Board approves the release of funds.
Therefore, the current development is the start of the latest review talks, rather than confirmation that the $1.2 billion has already been approved or transferred to Pakistan.
What Happens After the IMF Review?
The IMF mission will continue discussions with Pakistan’s economic authorities and examine the country’s performance against the programme’s agreed targets.
If the review is successfully completed, the matter can move towards the IMF’s Executive Board approval process. Any resulting disbursement would then be made in accordance with the IMF programme arrangements.
For Pakistan, the ongoing review is also significant because continued implementation of the IMF programme remains linked to efforts to maintain economic stability, strengthen public finances and advance structural reforms.
