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IMF board meeting: First review, $1.3bn new deal on the table today The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on Friday (May 9) to consider “Pakistan - first review under the Extended Fund Facility (EFF) program, request for modification of performance criteria and request for an arrangement under the Resilience and Sustainability Facility.” The board would consider the first review under the $7 billion EFF programme and a new arrangement of $1.3 billion under the Resilience and Sustainability Facility (RSF). Upon approval from the Executive Board, Pakistan will have access to about $1 billion (SDR 760 million) under the EFF, bringing total disbursements under the program to about $2 billion. In addition, the country would unlock the $1.3 billion under a new climate resilience loan program spanning 28 months. IMF to proceed with Pakistan review despite India’s objections An IMF team, led by Nathan Porter, held discussions during a February 24-Ma...
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