*ISLAMABAD: Pakistan to get first tranche of International Monetary Fund(IMF) approved loan today (Monday).*
Pakistan will be awarded $1 billion out of the $ 6 billion approved by theinternational body.
According to details, the IMF would pay the amount in full the allocationof which has been divided into three parts and three years with Pakistangetting $ 2 billion each year.
The money would help stabilized Pakistan’s dwindling economy and helpPakistan somewhat alleviate fiscal debt and inflation.
Pakistan is slated to receive the fund under IMF’s extended loan program.
Read Top Stories
The Executive Board of the International Monetary Fund (IMF) in itsWashington meeting on July 3 approved $6 billion loan for Pakistan underits bailout programme.
Pakistan’s government and the IMF had already signed staff agreement on May12. The Executive Board of the IMF will give its final nod to the agreementunder which Pakistan will receive six billion dollars loan package from thelender in three years under the extended fund facility.
