The government has arranged external financing assurances, and it is hoped the International Monetary Fund (IMF) Executive Board will take up Pakistan’s $7-billion loan programme during the ongoing month, said central bank governor Jameel Ahmad on Thursday.
“The government has arranged external financing,” Ahmad said at an analyst briefing held after the monetary policy announcement.
“We are hopeful the IMF will take up Pakistan’s case in September.”
The IMF did not respond to a request by Business Recorder for comment.
Pakistan signed a staff-level agreement with the IMF for the three-year programme in July, but it needs the lender’s Executive Board to sign off on the bailout.
Confirmation of external financing commitments has been seen as a hurdle in securing the approval.
Finance Minister Muhammad Aurangzeb had earlier this month said that the government was in the “advanced stages” of seeking assurances around external financing.
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