Finance Minister Miftah Ismail on Friday said that the International Monetary Fund (IMF) has agreed with Pakistan’s request to ease the conditions imposed on the country under the Extended Fund Facility (EEF) programme.
Speaking to a news channel, the finance minister said that IMF Managing Director Kristalina Georgieva has also agreed to increase the amount of the next tranche.
He, however, said that a lot of negotiations are yet to be held with the international financial institution to finalise the matter.
Miftah also announced that Pakistan would receive $2 billion from the World Bank by the end of this year.
Last month, the State Bank of Pakistan (SBP) received $1.16 billion from the global lender. The SBP said the loan would help improve the foreign exchange reserves of the country and ensure that the fund inflows promised by other multilateral and bilateral sources will actually be realised.
As per the EFF programme, which was signed with the IMF in July, 2019, Pakistan was set to receive $6 billion over a 39-month period. The IMF signed an extension for the programme on August 29, which will see it continue until June, 2023.