Pakistan, IMF Reach Staff-Level Agreement for $1.2bn Tranche

The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistani authorities on the fourth review under the $7 billion Extended Fund Facility (EFF) and the third review under the $1.4 billion Resilience and Sustainability Facility (RSF). This agreement qualifies Pakistan to draw approximately $1.2 billion from the fund's resources within four to five weeks. This development is crucial for bolstering Pakistan's foreign exchange reserves and improving investor confidence. The inflow of funds could provide stability to the Pakistani Rupee against the US Dollar, potentially influencing local gold prices.

بحوالہ / Source: www.dawn.com