{"id":49001,"date":"2024-01-17T12:45:03","date_gmt":"2024-01-17T12:45:03","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/pakistan-receives-700mn-loan-tranche-from-imf\/"},"modified":"2024-01-17T12:45:03","modified_gmt":"2024-01-17T12:45:03","slug":"pakistan-receives-700mn-loan-tranche-from-imf","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/pakistan-receives-700mn-loan-tranche-from-imf\/","title":{"rendered":"Pakistan receives $700mn loan tranche from IMF"},"content":{"rendered":"
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ISLAMABAD: Pakistan on Wednesday received $700 million loan tranche from the International Monetary Fund (IMF) under the nine-month Stand-By Arrangement (SBA), ARY News reported quoting SBP.<\/strong><\/p>\n

The development comes days after the Executive Board of the IMF completed the first review of Pakistan\u2019s economic reform programme supported by the SBA. T<\/p>\n

The Board\u2019s decision allowed for an immediate disbursement of around $700 million, bringing total disbursements under the arrangement to about $1.9 billion.<\/p>\n

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

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

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<\/div>\n<\/div>\n