{"id":46831,"date":"2024-01-12T03:19:04","date_gmt":"2024-01-12T03:19:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/imf-board-approves-700mln-loan-for-pakistan\/"},"modified":"2024-01-12T03:19:04","modified_gmt":"2024-01-12T03:19:04","slug":"imf-board-approves-700mln-loan-for-pakistan","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/imf-board-approves-700mln-loan-for-pakistan\/","title":{"rendered":"IMF board approves $700mln loan for Pakistan"},"content":{"rendered":"<div>\n<p><strong>ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) on Thursday completed the first review of Pakistan\u2019s economic reform programme supported by its Stand-By Arrangement (SBA), ARY News reported, quoting the finance ministry.<\/strong><\/p>\n<p>\u201cThe Board\u2019s approval allows for an immediate disbursement of SDR 528 million (around US$ 700 million), bringing the total disbursements under the SBA to US$ 1.9 billion,\u201d a Finance Ministry news release said.<\/p>\n<p>The IMF\u2019s nod follows the staff-level agreement reached between the Fund and Pakistan on November 15, 2023, emphasizing the nation\u2019s commitment to implementing key reforms.<\/p>\n<p>The IMF executive board\u2019s approval came after continued efforts of caretaker Finance Minister Shamshad Akhtar and Army Chief General Asim Munir.<\/p>\n<p><iframe style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/video.php?height=476&amp;href=https%3A%2F%2Fwww.facebook.com%2Farynewsasia%2Fvideos%2F768234805209909%2F&amp;show_text=false&amp;width=395&amp;t=0\" width=\"395\" height=\"476\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>The current IMF program of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining un-disbursed. The Fund released $1.2 billion first tranche in July.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The Executive Board of the International Monetary Fund (IMF) completed the 1st review and allows for an immediate disbursement of SDR 528 million (around US$ 700 million) bringing the total disbursements under the SBA to US$ 1.9 billion.<\/p>\n<p>\u2014 Ministry of Finance, Government of Pakistan (@Financegovpk) <a href=\"https:\/\/twitter.com\/Financegovpk\/status\/1745491696815890768?ref_src=twsrc%5Etfw\">January 11, 2024<\/a><\/p>\n<\/blockquote>\n<p>With the approval of the IMF board, Pakistan will get an installment of about 700 million US dollars. The finance ministry officials said Pakistan has achieved all IMF targets and hopefully will be able to get the required results. The officials said that Pakistan strictly implemented the economic reforms.<\/p>\n<p>It is pertinent to mention here that on 16<sup>th<\/sup>\u00a0November last year, Pakistan and IMF reached a staff-level agreement on the first review under Pakistan\u2019s SBA.<\/p>\n<p><strong><em>Read more:\u00a0<a href=\"https:\/\/arynews.tv\/pakistan-reaches-staff-level-agreement-with-imf-for-second-tranche\/\">Pakistan reaches staff-level agreement with IMF for second tranche<\/a><\/em><\/strong><\/p>\n<p>The agreement supports the authorities\u2019 commitment to advance the planned fiscal consolidation, accelerate cost-reducing reforms in the energy sector, complete the return to a market-determined exchange rate, and pursue state-owned enterprise and governance reforms to attract investment and support job creation, while continuing to strengthen social assistance.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script type=\"rocketlazyloadscript\">\n  window.fbAsyncInit = function() {\n    FB.init({\n      appId      : '161345524510473',\n      cookie     : true,\n      xfbml      : true,\n      version    : 'v3.0'\n    });\n    FB.AppEvents.logPageView();   \n  };\n  (function(d, s, id){\n     var js, fjs = d.getElementsByTagName(s)[0];\n     if (d.getElementById(id)) {return;}\n     js = d.createElement(s); js.id = id;\n     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n     fjs.parentNode.insertBefore(js, fjs);\n   }(document, 'script', 'facebook-jssdk'));\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) on Thursday completed the first review of Pakistan\u2019s economic reform programme supported by its Stand-By Arrangement (SBA), ARY News reported, quoting the finance ministry. \u201cThe Board\u2019s approval allows for an immediate disbursement of SDR 528 million (around US$ 700 million), bringing the total disbursements under [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":46832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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