Pakistan on Friday received another instalment of loan from the International Monetary Fund (IMF) after months of talks.
The State Bank of Pakistan (SBP) announced on Friday, “Following the successful completion of the 6th review of the IMF program, #SBP has received the next tranche of $1.053 billion.”
https://twitter.com/statebank_pak/status/1489616946807156736?s=24
Last month, Pakistan had asked the IMF to delay a board meeting meant to consider the country’s sixth review until the end of January.
The finance ministry said the meeting was meant to take place on January 12 to review the recommendation to release $1 billion of Pakistan’s $6 billion loan package, a three-year programme.
In November last year, the IMF said it had agreed on measures needed to revive a stalled $6 billion funding programme for Pakistan, which was facing growing economic challenges.
“The Pakistani authorities and IMF staff have reached a staff-level agreement on policies and reforms needed to complete the sixth review,” the IMF said in a statement.
