On Monday, Pakistan will receive the first tranche of the loan approved by the International Monetary Fund (IMF)
According to the details, the IMF would pay the full amount, divided into three parts and three years, and Pakistan would receive $ 2 billion each year. Pakistan is slated to receive the fund under IMF’s extended loan program.
The International Monetary Fund (IMF) Executive Board’s Washington meeting on 3 july (Wednesday) will decide about the bailout package to Pakistan.
The final budget measures approved by the Assembly, together with a report on compliance with all the measures, will be key elements of the Governing Council’s decision to grant Pakistan the request for a $6 billion bailout mechanism. The approved version of the budget and finance bill should be forwarded to the Fund.
The government in its budget proposals for the next financial year has added Rs. 357 billion loan from the IMF.
Sources said, the government has already fulfilled all IMF’s conditions before signing of agreement.
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27 September, 2019