On September 25, 2024, the IMF Executive Board approved a 37-month Extended Fund Facility (EFF) arrangement for Pakistan totaling $7 billion, with a staff-level agreement on the First Review reached on March 25, 2025. The EFF will enable Pakistan to access approximately $1 billion upon approval, while an additional $1.3 billion will be available through the Resilience and Sustainability Facility (RSF) over the course of the arrangement.
“Okay, let me talk a little bit about Pakistan then.
So again, just stepping back to explain where we are with Pakistan. On September 25th of 2024, the Executive Board approved a 37-month EFF arrangement for Pakistan, and it was for $7 billion. The First Review took place… the First Review mission took place recently, and a staff-level agreement on the First Review was reached on March 25th. And in addition to reaching a staff-level agreement on the EFF arrangement for the First Review, there was also a staff-level agreement reached on an RSF, a Resilience and Sustainability Facility, that was also reached on March 25th.
Under the EFF part – so I'm going to talk about both of them. So the EFF part, which is the First Review under the program, once approved by the IMF's Executive Board, that would enable Pakistan to have access of about $1 billion for that disbursement. For the RSF over the length of the arrangement, again subject to approval by the IMF's Executive Board, the staff-level agreement references an amount of $1.3 billion and that access will be over the life of the RSF, delivered in tranches.” said IMF spokesperson Julie Kozack.
Kozack also said the IMF received a request for a new program from Lebanon and working with the authorities to help them develop a comprehensive economic reform program.
“So, on Lebanon, an IMF fact-finding mission visited Lebanon from March 10th to 13th. And on that mission, the staff welcomed the authority's request for a new IMF-supported program to support the authority's efforts to address Lebanon's significant economic challenges. We have received, obviously, this request for a new program. We're working with the authorities to help them develop their comprehensive economic reform program. The engagement and discussions with the Lebanese authorities are ongoing.
And in terms of what is needed, what I can say is that first and foremost what is needed is a comprehensive strategy for economic rehabilitation. This is going to be critical to restore growth, reduce unemployment and improve social conditions. The authority's reform program is going to need to be focused on fiscal and debt sustainability, financial sector restructuring, governance improvements, and reforms to state owned enterprises. And critically it's going to be important to enhance data provision to improve transparency and to inform policymaking. And that is the latest update that I have on Lebanon. We'll of course keep you updated and I just want to reassure that we are fully committed to working with the Lebanese authorities and the engagement is ongoing and constructive.”
A copy of the full transcript is available at IMF.org
