Overview

• The IMF has released a second tranche of $1.023 billion under its Extended Fund Facility, boosting Pakistan's foreign reserves.
• Virtual discussions between the IMF and Pakistan on the FY2025-26 budget began on May 14 and will continue until May 16.
• The IMF mission's in-person visit to Islamabad, delayed by India-Pakistan tensions, is now planned for the weekend, with the team expected to stay until May 23.
• Iva Petrova has been appointed as the new IMF mission chief to Pakistan, succeeding Nathan Porter during a critical phase of budget negotiations.
• Pakistan has exceeded prior fiscal targets, reporting a primary surplus of 2.8% of GDP, as it prepares to announce its federal budget on June 2.