ISLAMABAD, Pakistan: The International Monetary Fund (IMF) has distanced itself from Pakistan’s decision to arrange the most expensive foreign commercial loan of US$ 600 million.
In a statement, the Spokeswoman for the IMF in Islamabad said that any such move was not linked to its requirement for securing approval for a U$ 7 billion bailout package.
“To our knowledge no commercial financing at 11% has been undertaken and if there is such it does not necessarily for the programme financing assurances,” the Spokeswoman said.
On Wednesday, the IMF Executive Board in its meeting held in Washington approved the US$ 7 billion loan package under the Extended Fund Facility Program for Pakistan.
The IMF Executive Board also authorised the release of first tranche of about US$ 1 billion for Pakistan.
 has distanced itself from Pakistan's decision to arrange the most expensive foreign commercial loan of US$ 600 million.){kind=link}