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