The International Monetary Fund (IMF) has finalized a staff-level agreement with Pakistan for a $1.3 billion loan package over 28 months to support the country’s climate change mitigation and adaptation efforts.
- This agreement also includes the first review of the ongoing $7 billion bailout program.
- Upon IMF board approval, Pakistan will gain access to approximately $1 billion under the Extended Fund Facility (EFF), bringing total disbursements under the program to around $2 billion.
- The $7 billion IMF bailout has been crucial in averting a potential economic default for Pakistan, helping its $350 billion economy stabilize and avoid financial collapse.
