(Bloomberg) -- The International Monetary Fund’s executive board will meet Jan. 11 to consider final approval to disburse the next $700 million tranche from its current loan program, according to a spokeswoman.
Pakistan last month reached a staff-level agreement with the IMF for the payment, under its existing $3 billion bailout package, and the board typically approves such deals.
The South Asian nation, which is grappling with Asia’s fastest inflation, has about $1 billion in dollar-denominated debt due next year and is scheduled to hold elections scheduled in February.
Read more: Pakistan Inflation in November Quickens Amid Energy Costs
Interim Finance Minister Shamshad Akhtar said after the staff-level deal in November that the country may seek an additional loan from the IMF, describing the economy as “still fragile.”
Read more: Pakistan May Seek More IMF Loans to Help Fragile Economy
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