The International Monetary Fund reached a staff-level agreement with Pakistan that could release about $1.2 billion in financing following reviews of the country's $7 billion Extended Fund Facility and $1.4 billion Resilience and Sustainability Facility, which support economic reforms and climate resilience, respectively, Arab News reported on Oct. 8. The agreement still requires approval from the IMF's executive board, which, once granted, would formally clear the way for the disbursement and provide additional support for Pakistan's external financing.