IMF likely to announce agreement on EFF with Pakistan this week: Naveed

Commerce Minister Syed Naveed Qamar says International Monetary Fund is likely to announce its staff level agreement on Extended Fund Facility with Pakistan this week.

In an interview with Bloomberg, he said Pakistan has taken all required measures to unfreeze a 6.5 billion dollars credit line and expects to clinch the deal any day now.

The Commerce Minister said after formal announcement by the IMF, Pakistan would get a 1.2 billion dollars tranche under the Extended Fund Facility.

He said the IMF agreement would give investors and creditors the confidence that Pakistan’s economy is now stabilizing and their money would remain protected.

Source: Radio Pakistan