Pakistan has been formally included to the Executive Board meeting of the International Monetary Fund (IMF) on September 25.
In order to assist in stabilizing its economy, Pakistan is requesting a $7 billion loan under the Extended Fund Facility (EFF).
The international lender has confirmed that Pakistan’s proposal will be discussed by releasing the schedule of meetings. Pakistan is anticipated to receive installments from the financial aid package shortly after if the loan is granted.
This proposal comes after Pakistan and the IMF negotiated a standby agreement on July 12. With a 37-month duration, the new IMF loan program will give Pakistan the financial assistance it needs to overcome its economic obstacles and maintain stability.
