Pakistan and the IMF had in July 2019 inked an agreement on economic policies under the three-year Extended Fund Facility. Under this agreement, about $ 6 billion is to be given to Pakistan for a period of 39 months.
The International Monetary Fund (IMF) has approved the completion of the sixth review of Pakistan’s $6 billion stalled programme. Along with this, the IMF has decided to immediately release a tranche of loan of about one billion dollars to the cash-starved Pakistan. The executive board of the IMF held a meeting in Washington DC on Wednesday to complete its sixth review and consider Pakistan’s request to release a $1 billion tranche under the Extended Fund Facility. Thereafter this installment was released. Pakistan’s Finance Minister Shaukat Tarin informed about this approval by tweeting.
In fact, Pakistan and the IMF had in July 2019 signed an agreement on economic policies under the three-year Extended Fund Facility. Under this agreement, about $ 6 billion is to be given to Pakistan for a period of 39 months.
