'IMF board nod awaited for next tranche'

Finance Minister Muhammad Aurangzeb said Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF), with approval from the lender's executive board expected shortly. The step would unlock the next tranche of funding as the country signals a return to global financial markets. According to the finance ministry, the minister shared the development during a meeting with representatives of S&P Global Ratings, where discussions focused on Pakistan's improving economic outlook and re-engagement with international markets. He said the staff-level agreement with the IMF had been finalised and was awaiting board approval, after which the next instalment would be released. The minister also noted that Pakistan had successfully repaid a $1.4 billion Eurobond earlier this month, underscoring the country's external repayment capacity. Aurangzeb further highlighted external support measures, including an additional $3 billion in financial assistance from Saudi Arabia and the extension of a $5 billion deposit until 2028.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/Ku2ZCNR