The advance party has reached the country for talks while the IMF mission will arrive on the night of May 16, sources said.

The global lender’s officials will receive data from different departments and discuss the upcoming budget 2025 too with the Ministry of Finance officials, the sources said.

The team will stay in Pakistan for more than 10 days, they shared.

Last week, Reuters reported that the mission will discuss the FY25 budget, policies, and reforms under a potential new programme for the welfare of all Pakistanis.

The IMF statement says, "Accelerating reforms now is more important than the size of the program, which will be guided by the package of reform and balance of payments needs.”

Earlier, the Ministry of Finance and the IMF confirmed that the lender had approved the “immediate disbursement” of a $1.1bn tranche that completes a total loan of $3bn agreed to under a deal inked last year.

The IMF said, “To move Pakistan from stabilization to a strong and sustainable recovery the authorities need to continue their policy and reform efforts, including strict adherence to fiscal targets while protecting the vulnerable; a market-determined exchange rate to absorb external shocks; and broadening of structural reforms to support stronger and more inclusive growth.”

The government had sought a new IMF deal after the current $3bn standby arrangement (SBA) with the global lender expired on April 11.