Pakistan’s IMF contract to be finalised in mid-March: sources

​

Islamabad: After a contract with the International Monetary Fund (IMF) is finalised, which is probable this month, Islamabad anticipates incoming external finance. If the IMF agreement is completed and approved by its board, $1 billion in funding will be released, which will also open the door to future bilateral and multilateral inflows.

The staff-level agreement will be signed on February 28 between Pakistan and the IMF, according to sources. The IMF executive board meeting, which is scheduled for the first week of March, will come after that, the source claims. 

Pakistan, which is a $350bn economy, is facing economic turmoil, with a balance of payment crisis and only enough foreign exchange reserves to cover three weeks of imports.