By Staff Reporter
ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board has released its schedule until August 28, but Pakistan’s name is notably absent from the agenda, casting uncertainty over the final approval of the country’s much-anticipated $7 billion bailout package.
Despite this exclusion, the Executive Board has the flexibility to add agenda items outside of the official schedule, leaving room for optimism. However, the surprise move has raised concerns about the loan’s disbursement timeline and the possibility that the loan may be delayed, just as Pakistan’s economy is struggling to stabilize.
A staff-level agreement between Pakistan and the IMF was reached on July 12, but the board’s approval is still pending.
The Finance Minister, Mohammad Aurangzeb, indicated earlier this month that a late-month meeting was expected for the approval of the much-needed lifeline for the country’s finances. The IMF typically takes four to six weeks to finalize a deal after a staff-level agreement is reached.
The finance ministry now expects the IMF executive board to approve the loan package in September.
The 37-month loan program is designed to shore up Pakistan’s economy, boost foreign reserves, and tackle fiscal challenges. However, without the IMF board’s formal approval, the country’s financial outlook remains precarious.
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