The International Monetary Fund (IMF) and the Government of Pakistan have reached a staff-level agreement on the second review of the 37-month Extended Fund Facility (EFF) and the first review of the 28-month Resilience and Sustainability Facility (RSF).
Once approved by the IMF Executive Board, Pakistan will receive about $1.2 billion, taking total disbursements under both programs to approximately $3.3 billion.
Economic Progress Highlighted by the IMF
The IMF noted that Pakistan’s macroeconomic stability is improving:
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The current account recorded its first surplus in 14 years
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The fiscal primary balance surpassed program targets
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Inflation remains contained
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External buffers and investor confidence are strengthening
Challenges Ahead
The Fund cautioned that recent floods—impacting nearly 7 million people—have hit agricultural productivity, leading to a revised FY26 GDP growth projection of around 3.3–3.5%.
Reform Commitments Continue
Pakistani authorities have reaffirmed their commitment to:
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Fiscal discipline and revenue mobilization
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Tax policy and governance reforms
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Energy sector restructuring
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Expansion of social protection through BISP
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Climate resilience and green growth initiatives
