The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement for the provision of $3 billion in bailout funds under a Stand-By Arrangement (SBA). This agreement comes as an alternative to Pakistan’s Extended Fund Facility (EFF) program, which was initiated in 2019 and is set to expire soon. The IMF board is set to convene in mid-July to approve the staff-level agreement. Here are key facts about the agreement, outlining the challenging reforms, additional funding, and the importance of staying the course.