The International Monetary Fund (IMF) is expected to extend Pakistan’s loan capacity to $8 billion after lifting the IMF lending ceiling.

According to reports, the IMF granted $6 billion in July 2019, and the IMF has so far awarded Pakistan $3 billion in debt relief.

According to sources close to the situation, the IMF may extend the loan duration by one year. The IMF is anticipated to make a statement on Monday.

The IMF team is scheduled to arrive in Pakistan in mid-May to examine budget recommendations and gasoline subsidies.

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