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Pakistan Clears Hurdles for IMF Program: State Bank Announces Key Financial Assurances
The State Bank of Pakistan confirms that all financial assurances for the IMF program have been secured. Pakistan will present its case at the IMF meeting on September 25, 2024. The government is optimistic about the approval of the special loan program.
ND
by News Desk
2024-09-12
Pakistan Clears Hurdles for IMF Program: State Bank Announces Key Financial Assurances

The State Bank of Pakistan has announced that the government has met all financial assurances required for the International Monetary Fund (IMF) program, removing any obstacles to securing the IMF loan. Pakistan is now set to present its case at the IMF board meeting scheduled for September 25, 2024.
According to the State Bank, Pakistan faces significant financial commitments in the current fiscal year, with a total of $26.20 billion due. Of this, $16.3 billion will involve the rollover of payments from the previous financial year. By March 2025, $14.1 billion will be due, with $8.3 billion rolled over and $5.8 billion outstanding, necessitating monthly payments between $800 million and $1 billion.
From July to September 2024, Pakistan has settled $4 billion in payments, with $1.7 billion paid and $2.3 billion rolled over. The IMF board meeting later this month is expected to approve the special loan program for Pakistan, following a staff-level agreement reached in July and the successful completion of a 9-month standby agreement last year.
The IMF has acknowledged Pakistan's progress in implementing the terms of the 37-month loan program, which includes the $7 billion loan request by Pakistan.
In a related development, Prime Minister Shehbaz Sharif addressed the Federal Cabinet, highlighting the positive progress in talks with the IMF. He praised the support received from friendly countries and expressed optimism about the forthcoming approval of the loan program.
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