On April 29, the executive board of the International Monetary Fund (IMF) is set to convene to deliberate on the approval of $1.1 billion in funding for Pakistan, as announced by the fund on Wednesday.
This funding constitutes the second and final tranche of a $3 billion Stand-By Arrangement (SBA) with the IMF. Pakistan secured this arrangement last summer to prevent a sovereign default, and it is due to expire this month.
In response to the impending conclusion of the current arrangement, Pakistan’s Finance Minister, Muhammad Aurangzeb, has expressed the nation’s intention to pursue a new, long-term IMF loan, seeking a larger financial package.
