On March 4, the IMF had announced that it would support vulnerable countries with different lending facilities, including through rapid-disbursing emergency financing, which could amount up to $50 billion for low-income and emerging markets. Of this, $10 billion is available at zero interest for the poorest members through the Rapid Credit Facility (RCF), the Dawn News reported.
On March 25, Hafeez Shaikh, Adviser to the Prime Minister on Finance, announced that Pakistan has arranged about $4 billion additional financial assistance from multilateral lending and aid agencies, including $1.4 billion additional funds from the IMF.
Soon after the announcement, the IMF chief confirmed Pakistan's request for financial assistance under the RFI to ensure prompt and adequate relief to the people and the economy.
The emergency financing, Georgieva said, would allow Pakistan to address additional and urgent balance of payments needs and support policies that would make it possible to direct funds swiftly to the country's most affected sectors, including social protection, daily-wage earners and the healthcare system.