IMF Executive Board meeting with Pakistan likely on Dec 7: sources

ISLAMABAD: After staff-level agreement, the International Monetary Fund (IMF) Executive Board meeting is expected to be held on December 7, Bol News reported on Tuesday quoting sources as saying.

IMF Executive Board to review Pakistan’s “financial performance” under the standby agreement Receipt of the next debt tranche of $700 million from the IMF, the sources said.

They said the executive board would approve the next installment after the success of the staff-level talks. After the Executive Board approval, Pakistan would receive 1.9 billion dollars out of 3 billion dollars, the sources maintained.

They said the remaining $1.1 billion of the standby contract would be available after another review.

“A second review of the standby agreement is likely to take place in March instead of February. The second review could be delayed due to the country’s general elections on February 8,” the sources said.

The sources said the IMF mission would hold second review talks with the newly elected government’s economic team.