International Monetary Fund’s (IMF) executive board meeting is expected to approve the last tranche of $1.1 billion under standby arrangement on Monday (today), ARY News reported on Monday, citing sources.
As per details, the meeting of the IMF executive board will continue until May 3. The international lender is likely to okay the disbursement of $1.1 billion to Pakistan today, the sources said.
They further said, the State Bank of Pakistan is likely to receive the last tranche from the IMF tomorrow, after the approval.
It is to be noted that Pakistan availed $3 billion loan programme from the International Monetary Fund (IMF) on July 12, 2023.
So far, Pakistan has received two tranches of $1.2 billion in July and $700 million in January 2024, totaling $1.9 billion.
Read more: Pakistan’s economy on recovery path amid global tides: Governor SBP
Last month, the International Monetary Fund (IMF) reached a staff-level agreement with Pakistan on the final review of a $3 billion bailout package.
The announcement came after the IMF team’s week-long visit to Islamabad concluded on March 19.
The global lender praised Pakistan’s central bank and outgoing caretaker government for “strong program implementation” and hoped the new government would continue its efforts for the stabilization of its economy.
The IMF official added that the new government is committed to continuing the policy efforts that started under the current Stand-By Arrangement to entrench economic and financial stability for the remainder of this year.
Last June, the IMF approved a crucial nine-month arrangement with Pakistan to aid its economic stabilization program.
from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/shvioqL
0 Comments