IMF Executive Board to Approve $1.2 Billion Tranche for Pakistan

Web Desk
April 28, 2026

WASHINGTON, D.C. – The International Monetary Fund (IMF) has convened an Executive Board meeting scheduled for May 6, 2026, to consider the approval of the next $1.2 billion tranche for Pakistan under the Extended Fund Facility (EFF), according to the IMF’s official calendar.

The meeting comes after Pakistan successfully completed all prior actions and conditions required for the combined third and fourth reviews of the $7 billion loan program.

What’s at Stake?

The IMF board is expected to consider:

Item	Details
EFF Third Review	$1.2 billion tranche under the 37-month Extended Fund Facility
RSF Second Review	Additional disbursement under the Resilience and Sustainability Facility (RSF) for climate action
Combined Approval	Both reviews expected to be cleared together

The total approved program size is $7 billion (SDR 5,320.8 million). The RSF, approved in September 2024, provides an additional $1.3 billion.

The tranche, once approved, will be the third disbursement under the 37-month EFF program (SDR 5,320.8 million). The combined third and fourth reviews were initially scheduled for March, but the board meeting is now listed for May 6.

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All Conditions Met, Says Islamabad

Islamabad has completed all prior actions required for the release of the funds, Finance Minister Muhammad Aurangzeb confirmed earlier this month.

“We are confident that the IMF board will approve the next tranche. Pakistan has delivered on all its commitments,” Aurangzeb told reporters during the IMF-World Bank Spring Meetings.

Last month, a staff-level agreement was reached between Pakistani authorities and an IMF team led by Nathan Porter. The agreement covered the combined third and fourth reviews under the EFF and the second review under the RSF .