Pakistan aims to finalize a staff-level agreement with the IMF for a bailout package exceeding $6 billion this month, according to Minister of State Finance and Power, Ali Pervaiz Malik. “We expect to conclude this (IMF) process within the next three to four weeks,” Malik stated, indicating the amount could surpass $6 billion.
He mentioned that Pakistan has met all the IMF’s conditions in its annual budget.
Read more: Pakistan’s development budget is significantly impacted by the IMF program
Finance Minister Muhammad Aurangzeb expressed optimism last week about securing a new and final IMF bailout for Pakistan.
Credit rating agencies and financial institutions have anticipated since April that Pakistan will reach an agreement with the IMF for a new four-year program by the end of July.
Wall Street Bank Citi noted in May 2024 that a larger and longer IMF Extended Fund Facility (EFF) program, potentially a $7-8 billion four-year program, could be finalized by July, along with potential Saudi investments.
