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IMF lending · Turning point

PRGF programme unlocks Paris Club restructuring of $12.5bn debt

13 Dec 2001 · Musharraf

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IMF lending

All events 1958 · Pakistan signs its first IMF Stand-By Arrangement 1988 · Structural Adjustment Facility and standby approved together 2001 · PRGF programme unlocks Paris Club restructuring of $12.5bn debt 2002 · IMF's own evaluators label Pakistan a prolonged user 2008 · IMF approves US$7.6bn standby during global crisis 2013 · Three-year US$6.64bn Extended Fund Facility approved 2016 · Pakistan completes all twelve reviews of the 2013 EFF

+4 more

2019 · Pakistan returns to IMF with US$6bn, 39-month EFF 2023 · Nine-month US$3bn standby approved as reserves run low 2024 · Interest payments absorb over half of federal revenue 2024 · IMF approves 37-month, US$7bn Extended Fund Facility

A Dec 2001 PRGF deal let Paris Club creditors reschedule US$12.5bn of external debt over 23-38 years, easing repayments

Source: Paris Club, 2001

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Is IMF lending a debt trap or a path to recovery for Pakistan?

“Supports” means it backs the claim: IMF lending has trapped Pakistan in a cycle of repeated borrowing and debt.

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No past question names it directly.