In positive economic development, Another big rise in the foreign exchange reserves of Pakistan
*ISLAMABAD - **In positive economic development, Another big rise in the foreign exchange reserves of Pakistan.*
*Pakistan received on Thursday $452 million as the second installment of the International Monetary Fund’s $6 billion loan programme, the State Bank of Pakistan said.*
The IMF had evaluated Pakistan’s economic progress and approved the release of the second tranche as part of its $6 billion programme on December 20.
Pakistan had received approximately $1 billion as part of the first tranche. Under the IMF programme, Pakistan has to make major changes to its economic policy and taxation system.
“The government of Pakistan is now determined and committed to implementing strong and solid economic programmes with IMF’s support,” said Maria Teresa Daban Sanchez, the IMF resident representative for Pakistan, in an exclusive interview to SAMAA TV.
The targets and objectives of the fiscal and the monetary policies and the power sectors have been achieved for the first quarter, she said. The programme is on track and the policies are getting good results.