$700 mln tranche: Important meeting of IMF Executive Board today

Washington DC: The important meeting of the Executive Board of the International Monetary Fund (IMF) will be held today (Thursday).

The meeting of the IMF Executive Board will be held in Washington this evening which will decide to release an installment of about 710 million dollars to Pakistan or not.

The IMF review mission has recommended Pakistan to issue this tranche and if the Board approves the tranche, Pakistan is likely to receive this amount tomorrow. in full. This loan will be released to Pakistan under the standby agreement.

Pakistan has implemented all the advance points offered by the IMF. The officials are hopeful that the IMF board will approve the release of the tranche in light of the review mission's recommendations.

A staff-level agreement on the completion of the first economic review between Pakistan and the IMF was reached on November 15.

It is pertinent to note that Pakistan has already received $1.2 billion from the loan program, while receiving another 700 million dollars will increase the amount released to 1.9 billion dollars.

The negotiations for the final installment under the program will be held in the last week of February. Under the Second Economic Review, it will be possible to provide $1.1 billion to Pakistan.