Pakistan, Oct. 8 -- The International Monetary Fund has reached a staff-level agreement with Pakistan on the latest economic programme reviews. The agreement could unlock up to $1.21 billion in fresh financing. However, the IMF Executive Board must approve the deal before releasing the funds.

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The agreement covers the fourth review of Pakistan's $7 billion Extended Fund Facility. It also covers the third review under the Resilience and Sustainability Facility. If approved, Pakistan could receive about $1 billion through the EFF. Another $210 million could come through the RSF. Total disbursements under both programmes would reach about $5.7 billion.

An IMF team led by Iva Petrova held ta...