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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.

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IMF approves $500 million loan disbursement to Pakistan
IMF approves $500 million loan disbursement to Pakistan

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.

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