Prime Minister Shehbaz Sharif spoke to the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on the phone. He expressed hope that the IMF would make a decision about releasing funds to Pakistan within the next day or two. Pakistan is currently awaiting the release of a $1.2 billion tranche from the IMF under the Extended Fund Facility (EFF) program. However, the release of these funds has been delayed because Pakistan has not met certain prerequisites set by the IMF. With the program set to expire on June 30, the Prime Minister held meetings with Georgieva in Paris to discuss the IMF program. The IMF has raised concerns about Pakistan’s proposed budget for the next fiscal year. In response, the government made changes to the budget to address these concerns. The revised budget has been passed by Parliament and is awaiting approval from the IMF’s executive board. The exact dates for approval and disbursement of funds have not been set, but they must be finalized before June 30 when the EFF program expires.
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