Overview
- The Executive Board completed the second EFF review and the first RSF review, unlocking about $1 billion under the EFF and about $200 million under the RSF.
- With this decision, total disbursements under the two programmes rise to roughly $3.3 billion out of a combined package of about $8.4 billion.
- The Fund approved waivers and relaxed some conditions after missed targets on tax collection and social spending, following prior actions including an undercapitalised bank restructuring order and publication of the governance diagnostic.
- The IMF cited stabilisation gains including a FY25 primary surplus near 1.3% of GDP and foreign exchange reserves around $14.5 billion, while noting temporary food inflation pressures linked to floods.
- Pakistan pledged further steps on tax measures, SOE law amendments, tight monetary policy, exchange-rate flexibility, energy-sector reform and accelerated climate resilience work.