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IMF Loan Program– The Ministry of Finance is currently engaged in discussions with the International Monetary Fund (IMF) to secure a fresh three year loan through its Extended Fund Facility Program.
There is potential for the signing of a substantial $8-10 billion program with the IMF once the ongoing one concludes on March 31st, 2024.
Sources reveal that the Ministry of Finance is actively pursuing the establishment of a new three year loan program under the EFF with the IMF. Prior to finalizing the agreement, the Ministry is committed to ensuring the fulfillment of all conditions specified in the new loan program to gain IMF’s confidence.
Read More: IMF Delays Final Tranche Negotiations Until New Government Forms
Moreover, proposals from the IMF regarding the federal budget for the fiscal year 2024-25 are expected to be submitted to the Finance Ministry in subsequent stages.
As outlined in the proposed loan program’s terms, it is anticipated that there will be a rise in electricity and gas prices, coupled with further reductions in subsidies. Insiders suggest that the terms of the new loan program are likely to be more stringent compared to the current standby arrangement.