Completion of Sixth Review: IMF Board to meet on 28th to consider Pakistan’s case

ISLAMABAD: The IMF’s Executive Board is scheduled to hold its meeting in Washington, D.C., on January 28, 2022 for considering Pakistan's request for completion of the Sixth Review and release of one billion dollars under the Extended Fund Facility (EFF).

Pakistan has so far accomplished one prior condition for getting the mini-budget passed from the Parliament, while the second key condition for passing the controversial State Bank of Pakistan (SBP) Amendment Bill 2021 was still awaited. The National Assembly had granted its assent to the SBP Amendment Bill but the approval of Senate is still needed.

The government has just 10 days left for getting Senate's approval but the question is if it passes the bill with major amendments, then the government might have to convene a joint sitting of the Parliament to get the SBP bill approved in its existing shape.

The IMF’s Executive Board will consider approval of 2021 Article IV Consultation, Sixth Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for Waivers of Nonobservance of Performance Criteria and Rephasing of Access.