{"id":81629,"date":"2021-11-22T12:16:40","date_gmt":"2021-11-22T07:16:40","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=81629"},"modified":"2021-11-22T12:16:44","modified_gmt":"2021-11-22T07:16:44","slug":"govt-imf-staff-level-agreement-extended-fund-facility","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-imf-staff-level-agreement-extended-fund-facility.html","title":{"rendered":"Govt, IMF reach staff-level agreement for revival of Extended Fund Facility"},"content":{"rendered":"\n<p>Islamabad: The International Monetary Fund (IMF) on Monday (November 21) announced the completion of a staff-level agreement with the government of Pakistan \u2018on policies and reforms needed to complete the sixth review under the USD 6 billion Extended Fund Facility (EFF)\u2019, news sources reported. The final approval, however, will be taken by the IMF executive board after a review of the suggested policy changes.\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/imf-releases-third-portion-of-the-6-billion-loan.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF releases third portion of the $6 billion loan<\/a><\/p>\n\n\n\n<p>The fund also announced that following the review completion, the government will have access to 750 million pledged to it through special drawing rights (SDR) that would be equivalent to USD 1,050 million. This would make the total disbursements under <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/pakistan-receive-usd-2-8-bn-imf-under-sdrs.html\" data-type=\"post\" data-id=\"78491\" target=\"_blank\">EFF to USD 3.027 billion<\/a>. In its review published on the IMF website, the fund announced that Pakistan\u2019s economy will grow to 4% in Fiscal Year 2022 while 4.5% in the next fiscal year. However, it also said that the inflation and current account deficit (CAD) will also grow in the ongoing FY22.\u00a0\u00a0As per the reports, the IMF has lauded the government for implementing crucial policy changes including the National Electric Power Regulatory Authority (NEPRA) Act Amendments, finalisation of the National Socio-economic Registry (NSER), payment of the first tranche of outstanding arrears to independent power producers (IPPs) and also anti-money laundering and <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/fatf-recognises-pakistans-extends-grey-list-deadline-june.html\" data-type=\"post\" data-id=\"74496\" target=\"_blank\">combatting the financing of terrorism (AML\/CFT) regime<\/a>.\u00a0\u00a0<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pakistan-usd-2-77-bn-imf-under-sdrs.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan to receive USD 2.77 billion from IMF in COVID-related support<\/a>\u00a0<\/p>\n\n\n\n<p>Recently, the State Bank of Pakistan has revised the policy rate to 8.75% from 7.25% to respond to the increasing market pressure and to manage CAD.&nbsp;&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The International Monetary Fund (IMF) on Monday (November 21) announced the completion of a staff-level agreement with the government of Pakistan \u2018on policies and reforms needed to complete the sixth review under the USD 6 billion Extended Fund Facility (EFF)\u2019, news sources reported. The final approval, however, will be taken by the IMF executive board after a review of the suggested policy changes.\u00a0\u00a0 Read: IMF releases third portion of the $6 billion loan The fund also announced that following the review completion, the government will have access to 750 million pledged to it through special drawing rights (SDR) that would be equivalent to USD 1,050 million. This would make the total disbursements under EFF to USD 3.027 billion. In its review published on the IMF website, the fund announced that Pakistan\u2019s economy will grow to 4% in Fiscal Year 2022 while 4.5% in the next fiscal year. However, it also said that the inflation and current account deficit (CAD) will also grow in the ongoing FY22.\u00a0\u00a0As per the reports, the IMF has lauded the government for implementing crucial policy changes including the National Electric Power Regulatory Authority (NEPRA) Act Amendments, finalisation of the National Socio-economic Registry (NSER), payment of&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[49647,11728,49646],"persona":[],"class_list":{"0":"post-81629","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-extended-fund-facility","9":"tag-imf","10":"tag-imf-reach-staff-level-agreement-for-revival-of-extended-fund-facility","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt, IMF reach staff-level agreement for Extended Fund Facility- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The International Monetary Fund (IMF) on Monday (November 21) announced the completion of a staff-level agreement with the government of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-imf-staff-level-agreement-extended-fund-facility.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt, IMF reach staff-level agreement for Extended Fund Facility- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The International Monetary Fund (IMF) on Monday (November 21) announced the completion of a staff-level agreement with the government of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-imf-staff-level-agreement-extended-fund-facility.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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