ISLAMABAD: The International Monetary Fund (IMF) is set to release $1.2 billion to Pakistan on December 9, following the Fund’s executive board meeting scheduled for December 8.
The approval will cover two concurrent programmes — the $7 billion Extended Fund Facility (EFF) and the $1.4 billion Resilience and Sustainability Fund (RSF).
Under the Staff-Level Agreement (SLA) reached on October 14, Pakistan will receive $1 billion under the EFF and $200 million under the RSF. Once disbursed, total inflows from both arrangements will rise to approximately $3.3 billion.
The IMF’s board calendar also shows a separate meeting on the same day to discuss Somalia’s programme.
Ahead of the meeting, Pakistan is expected to publish the long-delayed Governance & Corruption Diagnostic (GCD) Assessment Report — a key structural benchmark under the EFF.
Initially due in July and subsequently postponed several times, the report’s release has been delayed due to technical and factual differences between Pakistani authorities and the IMF’s expert team.
An official source confirmed that these disagreements have now been resolved and that the government has assured the IMF of the report’s publication before the board convenes.
The comprehensive study, prepared with input from the OECD and FATF, identifies systemic weaknesses in governance, public finance, and accountability mechanisms.
According to Dawn, the IMF’s technical mission held extensive consultations with Pakistan’s judiciary, anti-corruption agencies, the Federal Board of Revenue, the State Bank of Pakistan, and other key institutions.
The findings highlighted issues such as non-disclosure of assets by public officials, weak institutional accountability, and limited oversight of regulatory bodies — all contributing to widespread corruption.
The Fund has emphasized the need for data-driven safeguards, transparency mechanisms, and institutional reforms to curb misuse of public resources. The upcoming governance action plan, based on the GCD report’s recommendations, is expected to outline structural measures to address these vulnerabilities.
The IMF also commended Pakistan’s progress under the EFF, noting improvements in macroeconomic stability, fiscal performance, and external buffers. The Fund reported a current account surplus in FY25 — the first in 14 years — alongside contained inflation and narrowing sovereign spreads.
However, it cautioned that the devastating floods affecting nearly seven million people have dampened the growth outlook, reducing FY26 GDP projections to around 3.25–3.5 percent.
The IMF underscored Pakistan’s high vulnerability to climate shocks and stressed the importance of building resilience under the RSF framework.
