IMF approves $506 million loan tranche for Pakistan

PakistanIMF approves $506 million loan tranche for Pakistan

IMF approves $506 million loan tranche for Pakistan

WASHINGTON: The International Monetary Fund (IMF) has approved release of about $506 million as part of three-year loan programme supported by an Extended Fund Facility (EFF).

In a statement issued in Washington, the IMF said that the tranche was released after the executive board of the IMF on June 26 completed the seventh review of Pakistan’s economic performance under the EFF.

IMF Executive Board Completes Seventh Review under the EFF for Pakistan

With the release of the latest tranche, the total amount so far disbursed to Pakistan by the IMF comes to about $4.05 billion. This will take the country’s foreign exchange reserves to $18.7 billion.

The IMF Deputy Managing Director and Acting Chair Mitsuhiro Furusawa said that progress toward macroeconomic stabilization in Pakistan is encouraging. He said that the planned fiscal adjustment in the context of the fiscal year 2015-16 budget is appropriate.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

There is no harm to change strategy in Balochistan to bring the peace

There is no harm in changing strategy in Balochistan to bring peace

0
DND ReportThere is no doubt left that Quetta Railway Station's suicide bombing targeted personnel of security forces who were leaving Quetta for their homes....

Fight against terrorism requires support of all Pakistanis, believes COAS Gen Asim Munir

0
Quetta, Pakistan:  COAS Gen Asim Munir has said that the fight against terrorism requires the support of all Pakistanis.COAS highlighted that terrorism will never...
The hidden linkages among BLA, TTP, and PTI

The hidden linkages among BLA, TTP, and PTI

0
Islamabad, Pakistan: Another targeted suicide bombing in Quetta (Railway Station) has confirmed again that enemies are not sitting idle and they do not miss...

The Ruling Elite Decides the Destiny of Poor Pakistanis: A Story of Dreams Lost...

0
By Maria HameedIn a small village on the periphery of Lahore, Muhammad Bota wakes up before dawn every day. His routine is as predictable...
Donald Trump gave a winning speech before the official results

Donald Trump gave a winning speech before the official results saying he will not...

0
Monitoring Desk: Thanking his children, wife, supporters, and all who stood with him, Donald Trump gave a winning address before official results were announced....
Advertisement