Pakistan set to receive $450mn loan tranche from IMF

ISLAMABAD: The International Monetary Fund (IMF) mission’s 12-day visit to Pakistan ended on a positive note as it announced it would release the first tranche of its $6 billion financial assistance programme to the country.

invest with imarat

Islamabad’s emerging city centre

Learn More

According to a statement, all performance criteria for September-end were met with comfortable margins despite a difficult environment.

The IMF had designed the three-year rescue package for Pakistan in April – its 13th bailout programme for the South Asian nation since the late 1980s.

“Completion of the review will enable disbursement of SDR 328 million (or around $450 million) and will help unlock significant funding from bilateral and multilateral partners,” said Ramirez Rigo after the mission completed its first review.

“The government policies have started to bear fruit, helping to reserve the build-up of vulnerabilities and restore economic stability. The external and fiscal deficits are narrowing, inflation is expected to decline and growth, although slow, remains positive,” the IMF statement said.

The mission was in Islamabad from October 28 to November 8.

For more news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Kashmir House: A Guesthouse for Kashmir Government Officials

Located in the heart of Islamabad, Kashmir House serves as a prestigious guesthouse for officials…

2 days ago

Baghbanpura Bazar: A Historic Market in Lahore

Lahore, known as Pakistan's cultural and historic heart, is home to numerous ancient sites, bustling…

3 days ago

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

4 days ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

5 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

6 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

6 days ago