staff-level agreement: IMF board to meet on Jan 11 for $700 million tranche

The International Monetary Fund’s (IMF) executive board will meet on January 11 to consider the final approval to disburse the next $700 million tranche for $3bn Stand-By Arrangement (SBA).

The IMF board was tentatively scheduled to meet on Dec 7 for the fund disbursement. However, Christmas and New Year holidays forced the Board to reschedule the meeting to Jan 11.

In November, Pakistan and the IMF reached a staff-level agreement on the first review of the $3-billion, nine-month Stand-By Arrangement (SBA), which was originally announced on June 30.

The Staff-Level Agreement (SLA) b/w Pakistan and IMF was finalised on Nov 15 for releasing $700m.Which will bring total disbursements under the nine-month $3bn SBA to almost $1.9bn.