IMF board to discuss Pakistan’s programme on Sept 25: spokesperson
The International Monetary Fund (IMF) on Thursday confirmed that the Fund’s board will meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) to Pakistan. Pakistan expected to secure a deal with the Fund in August after the lender approved the 37-month programme agreed upon in July. The country also raised its tax revenue target by a record 40 per cent and hiked energy prices to meet the global lender’s demands. The country also completed its previous $3 billion loan programme in April and secured a credit rating upgrade from both Moody’s Ratings and Fitch Ratings late last month. Addressing a press briefing today, IMF’s spokesperson Julie Kozack said that the Fund had reached a staff-level agreement with Pakistan on the EFF in July.