IMF likely to approve $502m loan for Pakistan

ISLAMABAD (Online) - The International Monetary Fund (IMF) will discuss the eighth review under the Extended Fund Facility arrangement with Pakistan on Monday.

It is expected that the IMF will releases a tranche of $502 million in loan as part of the arrangement.

Pakistan achieved the staff-level agreement with the IMF officials last month after successful completion of the 8th review of the loan.

In a statement issued after the meeting, IMF officials had noted that Pakistan's economy continues to improve.

This week Pakistan successfully issued a new bond of $500 million after a series of road shows in Los Angeles, Boston, New York.