Islamabad: The International Monetary Fund (IMF) has scheduled an Executive Board meeting for December 8, 2025, to approve the disbursement of USD 1.2 billion to Pakistan under two concurrent programmes, with funds expected to be released on December 9.
The tranche includes USD 1 billion under the USD 7 billion Extended Fund Facility (EFF) and USD 200 million under the USD 1.4 billion Resilience and Sustainability Fund (RSF). The release follows a Staff-Level Agreement (SLA) reached on October 14, covering the EFF’s second review and RSF’s first review. Once approved, total disbursements under both arrangements will rise to approximately USD 3.3 billion.
An IMF team, led by Iva Petrova, held discussions in Karachi, Islamabad, and Washington, DC, to finalise the SLA. The IMF highlighted robust programme implementation and stressed priorities including sustaining fiscal discipline, supporting flood-affected households, maintaining inflation within the State Bank of Pakistan’s target range, restoring energy sector viability, advancing structural reforms, and progressing the RSF-backed climate agenda.
Ahead of the Board meeting, the IMF has urged Pakistan to publish and act on its Governance and Corruption Diagnostic (GCD) report. Recommendations include ensuring full transparency of the Special Investment Facilitation Council, creating a central registry of state-owned land and entities, conducting performance assessments of judges, publishing asset declarations of bureaucrats, and removing the finance secretary from the State Bank of Pakistan’s board.
Meanwhile, a visiting IMF technical mission is reviewing Pakistan’s budget formulation process and operationalising the newly established Tax Policy Office under the Ministry of Finance. Senior officials said recommendations finalised during these talks could form structural benchmarks for the IMF’s next review mission, expected in February or March 2026, which will also finalise tax proposals for the 2026-27 budget.
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