The government of Pakistan is seeking an additional $2 billion from the International Monetary Fund (IMF) to address the impacts of climate change, with Finance Minister Muhammad Aurangzeb expected to make the request at the IMF’s annual meetings later this month.
This follows an earlier request for $1.5 billion in climate financing, which was not immediately approved. Pakistan has implemented fiscal measures, including passing the FY24 budget with a primary surplus of 0.4% of GDP, and committed to a market-determined exchange rate and inflation reduction.
The loan will support Pakistan’s Climate Resilience and Sustainability Facility. The meetings, attended by Finance Ministry and State Bank officials, will conclude by October 26.
In September, Pakistan’s $7 billion Extended Fund Facility (EFF) was approved, aimed at boosting economic stability and growth
