IMF, Pakistan reach agreement on reforms to release around $500 million

ISLAMABAD: The International Monetary Fund (IMF) and Pakistan on Tuesday reached a staff-level agreement over reforms that will lead to the release of around $500 million in funds, the IMF and the country's finance ministry said.

The package strikes an appropriate balance between supporting the economy, ensuring debt sustainability and advancing structural reform, the fund said in a statement.

"Pending approval of the Executive Board, the reviews' completion would release around US$500 million," the IMF said.


Pakistan entered a $6 billion IMF programme in 2019.