The International Monetary Fund’s Executive Board will convene on December 8 to review Pakistan’s request for a $1.2 billion disbursement under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), according to the Fund’s latest schedule.
Pakistan reached a staff-level agreement with the IMF in October after successive rounds of talks in Karachi, Islamabad, and Washington. The agreement—covering combined reviews of the EFF and RSF—now awaits board approval before funds can be released. Once cleared, Pakistan is expected to receive around $1.2 billion, including approximately $1 billion under the EFF and $200 million under the RSF.
IMF Deputy Managing Director Bo Li recently commended Pakistan’s reform progress, saying the country is “on the right path of reform and resilience,” the Finance Division reported. He highlighted that the RSF, alongside the $7 billion stabilisation programme, will contribute $1.3 billion to help Pakistan strengthen fiscal and financial resilience against climate-related risks.
The IMF has noted improvements in fiscal consolidation, inflation reduction, and external buffer rebuilding, but cautioned that risks remain high due to flood-related losses and urged continued tight, data-driven monetary policy.
The upcoming board meeting also follows the release of the IMF’s Governance and Corruption Diagnostic Assessment—an essential requirement for approval. The report identified deep-rooted governance weaknesses and suggested Pakistan could boost its growth rate to 6.5% over five years by implementing a comprehensive 15-point reform plan. Its findings sparked opposition criticism and demands for investigations into governance failures, with KP Chief Minister Mohammad Sohail Afridi calling for greater accountability.
Finance Minister Muhammad Aurangzeb said the diagnostic should serve as a catalyst for overdue reforms and noted that several recommendations are already in progress.
If approved on Monday, the IMF disbursement may be released as early as the next day, bolstering Pakistan’s external financing and supporting its broader reform agenda.
