Government of Pakistan and the IMF had signed staff agreement on May 12. IMF‘s Executive Board will give its final nod to the agreement under which Pakistan will receive six billion dollars loan package from the lender in three years under the extended fund facility.
The International Monetary Fund (IMF) Executive Board’s Washington meeting on 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.
International Monetary Fund team will visit Islamabad every three months to review economic indicators of the country.
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