July 3, 2019 – IMF board approves loan to Pakistan.

• Loan to be given in instalments – under the Extended Fund Facility (EFF)
• On complying with economic norms set by the IMF board
• Duration – 39 months – till Oct 2, 2022 – was further extended till June 30, 2023
• Amount – about US$6.5 billion – 210% of the country loan quota at IMF
• What for – to support economic reform programme
• Immediate disbursal – US$1 billion

1^st review meet – completed on Dec 19, 2019 –

• IMF – Pakistan’s economic reform program is on track
• Disbursement allowed post it – about US$ 452.4 million –
• Total disbursements – about US$ 1.440 billion

Combined Second, Third, Fourth, and Fifth Reviews – completed on March 24, 2021

• Immediate loan purchase – US$500 million – for budget support
• Performance of economy – satisfactory – in COVID challenges
• Total disbursement so far – about US$2 billion

6^th review meet – completed on February 2, 2022

• Post it – immediate disbursement of about $1 billion
• Total disbursements so far – about $3bn or 106 per cent of the Pakistan’s IMF loan quota
• Postponed twice – on Pakistan’s request – more time needed for implementing IMF conditions – Jan 12, 2022 – Jan 28, 2022

Combine 7^th and 8^th review meets – completed on August 29, 2022 – on track

• Disbursement allowed post it – US$1.1 billion
• Total disbursement so far – about US$4.1 billion

9^th review meet – pending since November 2022

10^th, 11^th – also pending

IMF Board not happy with the steps taken by the Pakistan government

Total disbursement so far – about US$ 4 billion

Pakistan, so far, has failed to get US$2.5 billion  

Though it always says it has met those norms set