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Saturday May 18, 2024

Govt officials hopeful IMF board to release $1.1bn by end of April

IMF’s spokesperson insists that the Fund’s executive board is scheduled to meet till end of April 2024

By Mehtab Haider
April 23, 2024
The IMF Mission Chief for Pakistan, and Finance Minister Muhammad Aurangzeb along with their teams started second review of Stand-by Arrangement in Islamabad on March 14, 2024. — Ministry of Finance
The IMF Mission Chief for Pakistan, and Finance Minister Muhammad Aurangzeb along with their teams started second review of Stand-by Arrangement in Islamabad on March 14, 2024. — Ministry of Finance

ISLAMABAD: With prevailing confusion about the exact timeframe for granting approval of next tranche of $1.1 billion by the International Monetary Fund’s executive board for Pakistan, both the Washington-based lender and Pakistan have claimed that Islamabad’s case would be considered by end of April.

The IMF’s spokesperson insists that the Fund’s executive board is scheduled to meet till end of April 2024.

The IMF’s executive Board calendar released on the Fund’s website shows that Pakistan’s request for approving the second review and release of third tranche under $1.1 billion under Standby Arrangement Program (SBA) was not so far included.

“Our case is included which will be considered by the Board,” a top official of the Finance Division confirmed to The News on Monday. This scribe also contacted to IMF’s spokesperson in Washington D C and inquired about it from her, she replied that so far it is still scheduled till end of April.