ISLAMABAD: The International Monetary Fund on Thursday said that its board will meet on September 25 to discuss the USD 7 billion Extended Fund Facility (EFF) to cash-strapped Pakistan.

The loan package was agreed on July 12 when the two sides inked a staff level agreement but its formal approval was delayed due to failure of Pakistan to bridge external financing gap.

However, chief of the State Bank of Pakistan, Jamil Ahmad, said the country had secured a commitment of USD 2 billion external financing, which had been a hurdle in the key Fund’s meeting to endorse the 37-month EFF loan.

Press Trust of India