Pakistan to formally approach IMF for new bailout package in April meeting

ISLAMABAD: Pakistan will officially request the International Monetary Fund (IMF) for a medium-term Extended Fund Facility (EFF) during the upcoming annual spring meetings of the Bretton Woods Institutions (BWIs), with the augmentation of the next bailout package through climate finance.

The scale and duration of the forthcoming bailout package will be determined by the IMF’s review mission, anticipated to engage in discussions, likely from the first week of May, to finalise the principal aspects of the impending bailout package.

According to sources, Pakistan has chosen to pursue an increase in the Extended Fund Facility (EFF) with the assistance of climate finance, raising the possibility of securing a program ranging from $6 to $8 billion in size.

PakistN submit a request for the Extended Fund Facility (EFF), exploring the potential for augmentation through climate finance.

Meanwhile, Mohammad Al-Qahtani, CEO of Saudi Arabia Holding Company, has announced in a recent statement that Pakistan and Saudi Arabia have expedited the implementation of a significant $5 billion investment plan.