Business
IMF approves $500 million loan disbursement to Pakistan
Islamabad: The International Monetary Fund (IMF) has approved four pending reviews of Pakistan’s economy and the release of the next loan tranche of around $500 million.
According to details, the IMF has approved a half-billion disbursement for Pakistan, reviving the $6 billion programme as it remained derailed for over a year.
The loan tranche for Pakistan will help the country's economy and save lives and livelihoods amid the pandemic.
The disbursement was made after Pakistan cleared up the issue with data on government guarantees dating back to the 2016 fiscal year that had been reported inaccurately previously.
Earlier on Wednesday, the Executive Board of the IMF completed the second through fifth reviews of the Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan.
It is pertinent to mention that IMF has already given $1.45 billion in the previous two tranches out of the $6 billion agreed between the international creditor and Pakistan.
-
Regional 2 days ago
Markets to remain operational during Maryam Nawaz's visits
-
Pakistan 1 day ago
IHC Judges letter: Petition in SC to form inquiry commission
-
Technology 1 day ago
Nvidia’s AI chip dominance is being targeted by Google, Intel, and Arm
-
Crime 12 hours ago
Brother strangles sister in Toba Tek Singh
-
Technology 17 hours ago
Disney Plus has a new Hulu-ified logo
-
Regional 1 day ago
Nawaz Sharif not go for Umrah in RamadanÂ
-
Pakistan 2 days ago
PM, President discuss political, economic situation
-
Technology 1 day ago
Razer’s lightning-quick Huntsman V2 keyboard is down to its lowest price to date