Reuters (Reuters) – An IMF official said on Thursday that Pakistan must satisfy the IMF on three counts, beginning with a budget to be presented on Friday, before its board will consider whether to release at least some of the $2.5 billion remaining to be disbursed under a lending programme that will expire at the end of this month.

According to Esther Perez Ruiz, the International Monetary Fund’s resident representative for Pakistan, there was only time for one more IMF board review before the $6.5 billion Extended Fund Facility (EFF) was set to expire.

Pakistan’s cash reserves are hardly enough to fund one month’s imports. The IMF had intended to release $1.1 billion of the cash in November, but it has insisted on a number of criteria being completed before making any more payments.

“As previously communicated to the authorities, there may be one more Board meeting under the current EFF at the end of June,” Perez Ruiz wrote in an email to Reuters.

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