Cash-strapped Pakistan, IMF agree to extend stalled bailout package, increase loan size to $8bn

The Pakistan Tehreek-e-Insaf government and the IMF had signed a 39-month Extended Fund Facility (July 2019 to September 2022) with a total value of USD 6 billion. However, the previous government failed to fulfil its commitments and the program remained stalled for most of the time as USD 3 billion remained undisbursed. Before taking Pakistan's case to the IMF Board for approval, Islamabad would have to agree on the budget strategy for the next fiscal year 2022-23, the sources said.

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