Pakistan and the International Monetary Fund (IMF) are actively engaged in preparatory discussions for the Resilience and Sustainability Facility (RSF), which will be considered by the IMF Executive Board. This was announced by Julie Kozack, Director of the IMF’s Communications Department, during a recent press briefing.

Kozack confirmed that Pakistan has expressed interest in an RSF arrangement, stating, “Our team and the authorities are engaged in preparatory work. However, considerable background work is needed to complete discussions around any potential RSF. Like any program, an RSF would need to be considered by our Executive Board.”

She also highlighted that on September 25th, the Executive Board approved a new 37-month, $7 billion Extended Fund Facility (EFF) arrangement. The EFF’s key priorities include strengthening policymaking, building economic and climate resilience, and advancing reforms to support stronger, sustained, and more inclusive growth.

Kozack noted that an IMF team recently concluded a staff visit to Pakistan from November 12th to 15th. The visit left the staff encouraged by the Pakistani authorities’ reaffirmed commitment to the program.

Addressing concerns about revenue shortfalls, the IMF stated that these issues would be assessed during the full review mission. Under Pakistan’s EFF, reviews occur semiannually, unlike some programs where reviews are quarterly. The recent staff visit was a standard procedure between the semiannual review missions.