IMF agrees to give Pakistan $6.6 billion loan

BusinessIMF agrees to give Pakistan $6.6 billion loan

ISLAMABAD: Pakistan can acquire a loan package worth $6.6 billion from the International Monetary Fund (IMF) after the organization gave its consent, finance ministry officials said.

Following weeks of talks between an IMF delegation and Pakistani government officials held in Islamabad in July, the fund had settled on an initial package of $5.3 billion, while Pakistan had requested $7.2 billion.

According to a top finance ministry official, after further consultations which were held in the United States, the IMF has raised its offer and now agreed to pay $6.6 billion to Pakistan.

The official announcement will come very soon, the official said on condition of anonymity.

The IMF’s executive board will formally approve the package for Pakistan sometime in early September, as long as Pakistan has made some fiscal reforms, the IMF said on its website.

Must read

Recent News

PTI Protest November 24

PTI Protest November 24: All roads leading to Islamabad closed down

0
Islamabad, Pakistan: Administrative panic of the government can be judged by the fact that Motorways including M1, M2, M3, M4, M-11, and M14 have...
State Bank of Pakistan releases coin to commemorative 555th birth anniversary of Baba Guru Nanak

State Bank of Pakistan releases coin to commemorative 555th birth anniversary of Baba Guru...

0
Karachi, Pakistan: The State Bank of Pakistan has released coin worth Rs 55 to commemorate the 555th birth anniversary of Baba Guru Nanak.On the...
Punjab Government created a trench at Haro River Bridge so PTI procession from Peshawar could not enter Islamabad

PTI Protest Call: Despite road blockades, PTI workers move on towards Islamabad

0
Monitoring Desk: Despite road blockades, worker arrests, and a police crackdown, followers of Tehreek-e-Insaf (PTI) are moving fast towards Islamabad for a protest on...
37 Brigadiers of Pakistan Army promoted as Major Generals

CTD Punjab claimed to kill three TTP terrorists near Rawalpindi

0
Rawalpindi, Pakistan: The Counter Terrorism Department (CTD) of Punjab killed three TTP terrorists (officially known as Khawaji) at Chakri, 30 km away from the...
Ukraine to receive 500,000 artillery shells by yearend from Czech Republic Monitoring Desk: In dire need to counter Russian aggression, Ukraine will receive 500,000 shells of various calibers by the end of this year from Czech Republic, reports Ukrinform. Referring to announcement of Czech Foreign Minister Jan Lipavský, Ukrinform reports that Czech Republic will continue to provide support to Ukraine to repel and stop Russian aggression. "As you know, my country has launched an initiative on ammunition. By the end of the year, 500,000 large-caliber shells will be delivered. We will not stop there. We will continue to provide the Armed Forces of Ukraine with the necessary support," the Czech Foreign Minister emphasized.

Ukraine to receive 500,000 artillery shells by yearend from the Czech Republic

0
Monitoring Desk: In dire need to counter Russian aggression, Ukraine will receive 500,000 shells of various calibers by the end of this year from...
Advertisement