The International Monetary Fund (IMF) has officially announced that its Executive Board will consider Pakistan’s first review under the Extended Fund Facility (EFF), along with requests for modification of performance criteria and an arrangement under the Resilience and Sustainability Facility.

According to the IMF’s website, the Executive Board meeting is scheduled for May 9, where the release of Pakistan’s next tranche under the $7 billion EFF arrangement will be discussed. The agenda also includes the potential unlocking of approximately $1.2 billion under the Resilience and Sustainability Facility, should Pakistan choose to access these funds in the future.

The Pakistani authorities and the IMF reached a staff-level agreement on a 37-month EFF program worth SDR 5,320 million (approximately $7 billion) on July 12, 2024. The first tranche of $1.1 billion was disbursed upfront, with subsequent installments planned every six months, contingent upon Pakistan meeting agreed performance targets.

The next tranche is expected to be released next month, pending the Executive Board’s approval.