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IMF approves loan tranche of $500m

byMuhamad Arshad
March 25, 2021
in Business, Finance
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On Wednesday,  the International Monetary Fund (IMF) approved four pending reviews of Pakistan’s economy and decided to release the next loan tranche of around   $500 million reviving the $6 billion program after it remained derailed for over a year.

To revive the program back, Prime Minister Imran Khan has taken some strong decisions in spite of the current political situation. These measures, which were pre-existing conditions including an increase in electricity prices, imposition of Rs140 billion taxes, and agreeing to an unparalleled autonomy for the central bank.

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The Executive Board of the IMF endorsed the staff-level agreement, reached between the government of Pakistan and the IMF team last month, a top government functionary told media officials after the board’s approval.

The board’s approval has made easy the release of a $500 million third loan tranche. Out of the $6 billion, the IMF has already disbursed $1.45 billion in two tranches, bringing the total disbursements to $2 billion.

Tags: IMFpakistan politicsPrime Minister Imran KhanPTI Government
Muhamad Arshad

Muhamad Arshad

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