Newly appointed Finance Minister Mohammad Aurangzeb has confirmed that talks between Pakistan and the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA) are set to begin this week.
The government is expected to send a formal request for IMF assistance to bolster the country’s economy. The discussions may also extend to exploring a new medium-term bailout package, seeking an Extended Fund Facility (EFF) of $6 billion, with potential additional funds for climate financing.
The Finance Minister stressed the need for action in addressing economic challenges during the fiscal year 2024.
