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Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →On May 8, 2026, the IMF Executive Board completed Pakistan’s third review under its Extended Fund Facility (EFF) and second review under its Resilience and Sustainability Facility (RSF). The decision approved an immediate disbursement of SDR 914 million—SDR 760 million under the EFF and SDR 154 million under the RSF. The IMF release says the funds were made available; it does not independently confirm when they were credited to the State Bank of Pakistan (SBP).
How much did the IMF approve?
The May 8 IMF announcement lists SDR 760 million under the EFF and SDR 154 million under the RSF, for a combined SDR 914 million. The IMF gave rounded dollar equivalents of about US$1.1 billion and US$220 million, respectively. These dollar figures are approximate; the SDR amounts are the precise amounts stated in the public release. IMF, May 8, 2026.
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The same release said total disbursements under the two arrangements would reach about US$4.8 billion (SDR 3,348 million) after the decision. That is the cumulative amount under both programs, not the amount newly approved in this review.
Was the money received by Pakistan’s central bank?
The IMF described its decision as allowing an “immediate disbursement” and said the funds were made available. The official sources cited here do not separately confirm the date the money was credited to the SBP. For that reason, it is accurate to say the Board approved the disbursement or made the funds available, but not to state as a confirmed fact that the SBP had received the full amount.
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What is the difference between the EFF and RSF?
The two facilities serve related but distinct purposes. Pakistan’s EFF is the broader macroeconomic and structural-reform program; the RSF supports climate and disaster resilience. The amounts below are those made available through the May 2026 review decision.
| Facility | Purpose | New amount approved |
|---|---|---|
| Extended Fund Facility (EFF) | Macroeconomic stability and structural reforms | SDR 760 million (about US$1.1 billion) |
| Resilience and Sustainability Facility (RSF) | Climate resilience and reducing vulnerability to natural disasters | SDR 154 million (about US$220 million) |
EFF: stability and structural reform
The 37-month EFF arrangement was approved on September 25, 2024. Its stated priorities include rebuilding international reserves, broadening the tax base, strengthening competition and productivity, reforming state-owned enterprises, improving public services, expanding health, education and social-protection spending, restoring the energy sector’s viability, and intensifying anti-corruption efforts. The IMF describes these priorities in its country report for the review.
RSF: climate and disaster resilience
The 28-month RSF arrangement was approved on May 9, 2025. Its supported work includes strengthening disaster resilience and public-investment processes, improving water-use efficiency including through pricing, coordinating disaster response between federal and provincial authorities, improving climate-risk information and disclosure by banks and companies, and supporting Pakistan’s climate-mitigation commitments. These are program priorities, not a claim that each reform has already been completed.
What economic conditions did the IMF report?
In its May 8 release, the IMF said program implementation had maintained stability and improved financing and external conditions despite the Middle East war. It expected a primary surplus of 1.6% of GDP for fiscal year 2026; that was a forecast, not a final audited outcome. The IMF also reported that inflation had risen as higher global commodity prices passed through to domestic energy prices.
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Gross reserves were reported at US$16 billion at end-December, up from US$14.5 billion at end-June 2025, and were projected to continue rebuilding. These are figures reported with the May 2026 decision, not current reserve data for any later date. Pakistan’s fiscal year ends June 30.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What did the IMF say would happen next?
On May 20, 2026, IMF staff reported a visit focused on economic developments, reform implementation and Pakistan’s FY2027 budget strategy. The statement said the next mission, expected to include an Article IV consultation and EFF and RSF reviews, was envisioned for the second half of 2026. That was the timing forecast published on May 20; it does not establish that the mission or a later review subsequently took place. IMF, May 20, 2026.
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