The International Monetary Fund (IMF) announced that its Executive Board is set to meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) for Pakistan. This development follows Pakistan’s successful acquisition of necessary financing assurances from its development partners.

IMF spokesperson Julie Kozack confirmed the meeting date during a press briefing, stating, “The board meeting is scheduled to take place on September 25, following Pakistan obtaining necessary financing assurances from its development partners.”

In July, the IMF and Pakistani authorities reached a staff-level agreement on a 37-month EFF arrangement worth approximately $7 billion. This agreement is contingent upon approval by the IMF’s Executive Board.

Earlier, Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), announced that Pakistan had secured the $2 billion in external financing required for the IMF program. This achievement paves the way for the IMF board’s approval later this month, marking a significant step forward in Pakistan’s efforts to stabilize its economy.