Business News

IMF board to meet on December 19 to review Pakistan program

KARACHI: The board of International Monetary Fund (IMF) will meet on December 19, 2019 to review Pakistan’s loan program and consider releasing next tranche.

Gerry Rice, Director Communication, IMF in a press briefing on Thursday said that the IMF had a $6 billion program to support IMF’s economic reforms.

“We had a mission there in November and the communication around that with a preliminary assessment of where we think Pakistan stands.”

Which is that the program is on track and we reached a staff-level agreement on what we call the first review. You can read about that in more detail on our website.

We had the preliminary assessment from staff after that mission to Pakistan and the board will meet to discuss that first review on Thursday, December 19th.

What that indicates is that all prior actions and performance criteria under the program with Pakistan have been met. And that the financing assurances needed for the program to go forward are in place.