ISLAMABAD – In positive economic development, IMF to approve next trancheof $450 loan for Pakistan.The International Monetary Fund (IMF) is likelyto approve next tranche of loan amounting to $450 million for Pakistan inApril, GNN reported.
The global lender agency and Pakistan have reached a staff-level agreementfor second economic review.
The IMF executive board would meet in April to review the staff-levelagreement where the final approval would be given to release the loan.
Earlier this month, the IMF mission concluded its visit to Islamabad toinitiate discussions on the second review of the authorities’ economicreform program supported under the Extended Fund Facility (EFF) arrangement.
In a statement, the mission confirmed that economic activity in Pakistanhas stabilized and remains on the path of gradual recovery.
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“The IMF staff team had constructive and productive discussions with thePakistani authorities and commended them on the considerable progress madeduring the last few months in advancing reforms and continuing with soundeconomic policies,” said the official press release.
The mission and the Pakistani authorities made significant progress in thediscussions on policies and reforms, it added
The visiting mission said that ongoing progress will continue to pave theway for the IMF Executive Board’s consideration of the review.
