IMF Releases US $ 1.1 Billion Loan For Pakistan

IMF Release 1.1 Billion Loan For Pakistan.PakistanTribe.Com

IMF Release 1.1 Billion Loan For Pakistan.PakistanTribe.Com

ISLAMABAD – International Monitory fund (IMF) has accorded approval for giving US $1.1 billion to Pakistan, PakistanTribe received international media reports.

In a meeting in Washington DC IMF aka fund has decided to give 41.1 billion loan to Pakistan. This amount will be given in two parts of $550 million each.

According to sources the financial stability and economic condition of Pakistan was observed as “”Satisfactory” .

The decision was taken in an executive meeting which was the continuity of IMF last meeting held in November about Pakistan.

Earlier in November Pakistan and the International Monetary Fund (IMF) completed negotiations on the fourth review as well as the fifth review under the three-year Extended Fund Facility (EFF) programme for an amount of US$6.64 billion.

That meeting enabled the IMF mission to go to its board for the release of the fifth tranche of about US$1.1 billion.

Finance Minister Ishaq Dar after negotiations with the IMF said “The completion of the fourth and fifth reviews was indicative of the government’s commitment to implement structural reforms in the areas of taxation, energy, the monetary and financial sectors as well as public sector enterprises”,

That time the minister told the media, “We have successfully completed the negotiations of the fourth and fifth reviews. This has been a team effort. Our challenges remain numerous but we are determined that we will remain on track in achieving the objectives of the programme (of economic development) in line with the PML-N’s 2013 election manifesto”.

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