An International Monetary Fund (IMF) mission is scheduled to arrive in Pakistan on Wednesday for the second and final review of a $3 billion standby arrangement, according to two sources familiar with the matter.
The four-day review is set to commence on Thursday, stated the two finance ministry officials, who spoke on the condition of anonymity due to not being authorized to disclose the information.
Last summer, Islamabad secured the rescue package in a last-minute effort to prevent a sovereign default.
If the last review proves successful, it is expected to unlock a tranche of around $1.1 billion.
Prime Minister Shehbaz Sharif has instructed his finance team, led by newly appointed Finance Minister Muhammad Aurangzeb, to begin preparations for seeking an Extended Fund Facility (EFF) once the standby arrangement expires on April 11.
Aurangzeb informed reporters that the team would be arriving this week, although he did not specify a date, as reported by the Dawn daily.
The lending institution has indicated that it will develop a medium-term program if Islamabad submits an application for one.
