The International Monetary Fund (IMF) has not scheduled Pakistan’s loan approval discussion for its August 28 Executive Board meeting.
Sources confirm that the meeting’s agenda currently includes a review pertaining to Guinea-Bissau but omits any item related to a new loan program for Pakistan.
Despite the expectations Federal Finance Minister Mohammad Aurangzeb set for a loan approval this month, the IMF’s published agenda does not reflect this. However, the Finance Ministry holds that the IMF may still convene a special session within the remaining days of the month to address Pakistan’s loan application.
Read: Relief for Salaried Class in Pakistan Pending IMF Approval
Economic analysts suggest that the agenda for the August 28 meeting could still be updated to include Pakistan’s request. This comes after Pakistan and the IMF reached an agreement on July 12, proposing a $7 billion loan spanning 37 months. To secure this financing, Pakistan has outlined a robust tax revenue strategy to increase collections by 3,724 billion rupees over the next three years.
