• Allows Islamabad to draw $1bn under EFF and $200m under RSF after successful review
• Says country maintained stability despite severe floods and a difficult global environment
• Calls for continuing tight monetary policy, strengthening tax base, improving governance, focusing on SOE reforms and privatisation

WASHINGTON: The Internat­ional Monetary Fund (IMF) has approved a fresh disbursement of around $1.2 billion to Pakistan under its dual-track bailout — the 37-month Extended Fund Facility (EFF) and the climate-focused Res­i­l­ience and Sustainability Facility (RSF). The decision came on Monday, after the IMF Exec­utive Board convened in Washington.

The board’s statement highlighted that “Pakistan’s strong programme implementation, despite the recent devastating floods, has maintained stability and improved financing and external conditions”.

It stressed that the country’s policy priorities remain centred on maintaining macroeconomic stability and advancing reforms to strengthen public finances, enhance competition, raise productivity and competitiveness, bolster the social safety net and human capital, reform state-owned enterprises (SOEs), and improve public service provision and energy sector........

© Dawn Business