With $ 1.4Bn upfront breathing space through the Rapid Financing Instrument (RFI), Pakistan and IMF have agreed to put on hold the existing $ 6Bn Extended Fund Facility (EFF) and revise it after the Covid-19 pandemic is over. According to IMF, the RFI, disbursed in one tranche, is the appropriate instrument to support Pakistan at this juncture as uncertainty about outlook makes it difficult to recalibrate the existing EFF to ensure it remains on track to meet its objectives.
18/4/2020