Pakistan reaches staff-level deal to unlock $1.21 billion from IMF

Pakistan and the IMF reached a staff-level agreement on the latest reviews of its loan programs, unlocking about $1.21 billion once the Fund's board approves.

Why it matters: Board approval would take total disbursements to about $5.7 billion and is Pakistan's main external anchor as reserves sit at $21.5 billion and inflation runs near 10 percent.

Data as of October 8, 2026. Agreement terms per IMF statement as reported by The News/Reuters and Mettis Global: fourth review of 37-month EFF (~$1.0bn, SDR 760m) plus third review of 28-month RSF (~$210m, SDR 154m), subject to Executive Board approval; talks September 23-October 7 in Karachi/Islamabad led by Iva Petrova. Macro figures (4% GDP growth in first three quarters FY26, ~10.3% September inflation, $21.5bn reserves) per IMF as reported by Reuters

Pakistan and the International Monetary Fund reached a staff-level agreement on the fourth review of Pakistan’s 37-month Extended Fund Facility and the third review of its 28-month Resilience and Sustainability Facility, the Fund announced Wednesday. If approved by the IMF Executive Board, the deal would release about $1.0 billion under the EFF and $210 million under the RSF, taking total disbursements under the two programs to about $5.7 billion.

The IMF team, led by Iva Petrova, held talks with Pakistani authorities in Karachi and Islamabad from September 23 to October 7, covering the program reviews alongside the 2026 Article IV consultation. The Fund said Pakistan maintained macroeconomic stability despite the Middle East conflict, with GDP growth of 4 percent in the first three quarters of FY26, inflation down to about 10.3 percent in September, and gross reserves of about $21.5 billion at end-September, while warning that geopolitical tensions and volatile energy prices keep risks high.

Pakistan reaches staff-level deal to unlock $1.21 billion from IMF

Sources