IMF initially agrees to disburse US$1.1 billion to Pakistan
March 20, 2024
The International Monetary Fund initially approved on Wednesday the disbursement of 1.1 billion dollars (approximately one billion euros) to indebted Pakistan, pending final approval from the council.
The sum constitutes the final tranche of a $3 billion rescue package that Pakistan secured last summer. The package helped the South Asian country avoid sovereign debt default.
What do we know about the deal?
The technical-level agreement is expected to be reviewed by the board in April, the IMF said. It follows a five-day IMF mission to Pakistan to review the fiscal consolidation milestones established for the loan.
“Pakistan’s economic and financial position has improved in the months since the first assessment, with growth and confidence continuing to recover thanks to prudent policy management and the resumption of flows from multilateral and bilateral partners,” the IMF said.
Source: DW
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