Good News for Pakistan from the IMF
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Pakistan's Ministry of Finance revealed on Thursday night that the International Monetary Fund (IMF) Executive Board completed the first review of the $3-billion Stand-By Arrangement. Consequently, the Ministry announced the approval for an immediate disbursement of $700 million to Pakistan.
This significant development comes after the IMF and Pakistani authorities reached an agreement on November 15, achieving a staff-level consensus on the initial review within the Stand-By Arrangement (SBA).
The total disbursements under the SBA are now reported to be $1.9 billion, with the latest immediate disbursement of SDR 528 million (approximately US$ 700 million).
The current IMF program is scheduled to conclude in the second week of April. Notably, the initial tranche of $1.2 billion was disbursed by the Fund in July 2023, marking progress within the agreed-upon financial arrangement.
