The International Monetary Fund (IMF) has approved a 500 million dollar disbursement to Pakistan.
As per the details, IMF Deputy Managing Director Antoinette Sayeh mentioned in a statement that the latest payment brought total disbursements under the Extended Fund Facility to 2 billion dollars since the program was first approved in July 2019.
She stated that Pakistani authorities have continued to make satisfactory progress under the program.
After reviewing #Pakistan’s reform program supported by the IMF Extended Fund Facility, the Fund’s Executive Board approved the immediate disbursement of about US$500 million for budget support. https://t.co/WFaSy51UYv
— IMF (@IMFNews) March 24, 2021
#Pakistan’s economic reform program has been critical in addressing the COVID-19 crisis and supporting the economy, thus saving lives and livelihoods. https://t.co/WFaSy51UYv
— IMF (@IMFNews) March 24, 2021
Pakistan Reaches Staff-Level Agreement With IMF
Earlier in February, an agreement was reached between the International Monetary Fund (IMF) and Pakistan which has paved the way for the release of a $500 million instalment to Pakistan.
Pakistan had assured of a structural reform program after which Pakistan’s debt program has been restored.
