Pakistan, IMF discuss $2.5 bln standby arrangement

Pakistan and the International Monetary Fund are discussing a $2.5-billion “standby arrangement” for six to nine months, domestic newspapers said on Wednesday, with the current bailout programme set to expire on June 30.
Pakistan rushed through a recent slew of policy adjustments, including a revised budget sought by the IMF and an off-cycle hike in interest rates, hoping to secure the pending funds under the Extended Fund Facility programme (EFF) signed in 2019.
With time running out, Finance Minister Ishaq Dar said on Tuesday the two sides were working on a “mechanism” to ensure that Pakistan got the entire amount and not just the close to $1.1 billion due under the current review.
Dar did not elaborate on what the mechanism was.