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Pakistan gets IMF board’s nod for final $1.1 billion tranche

ByIzhar Ul Haq

May 26, 2024 #$1.1 billion tranche, #IMF, #IMF board approval, #IMF Deputy Managing Director statement, #IMF disbursement, #IMF review meeting, #IMF Stand-By Arrangement, #Pak Trend Line, #Pakistan economic reform, #Pakistan financial stability, #Pakistan IMF loan, #Pakistan macroeconomic policies
In the image show the IMF logo And Pakistan flag in collageImage Source: Google | Image by - <a href="https://www.thenews.com.pk/">The News International</a>
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IMF Approves Final $1.1 Billion Tranche for Pakistan

 

In a significant development, the International Monetary Fund (IMF) has approved the disbursement of the final $1.1 billion tranche to Pakistan under the $3 billion Stand-By Arrangement (SBA). This decision was made during the IMF Executive Board’s recent meeting, marking a crucial step for Pakistan’s ongoing economic reform program.

The approval came after the successful completion of the second and final review of Pakistan’s economic policies supported by the SBA. The IMF praised Pakistan’s determined policy efforts, noting that these measures have helped restore economic stability, moderate growth, and ease external pressures. However, the IMF highlighted that continued reforms and strong external support are essential for sustained economic progress.

Prime Minister Shehbaz Sharif’s meeting with IMF Managing Director Kristalina Georgieva in Riyadh also played a pivotal role in securing this tranche. The discussions focused on Pakistan’s future financial requirements, with the country seeking a new long-term Extended Fund Facility (EFF) to further stabilize its economy.

This latest tranche is part of a larger $6 billion bailout package initially agreed upon to avert a sovereign default. With Pakistan facing significant debt repayment obligations, the IMF’s support remains vital for maintaining financial stability and executing structural reforms necessary for long-term economic health.

For more details, you can read the full article on The News International

By Izhar Ul Haq

Izhar Ul Haq is a professional blogger and WordPress management expert. He is known for his expertise in various categories of blogging, with a special focus on politics. As an administrator at Paktrendline, Izhar Ul Haq ensures a smooth and engaging experience for readers interested in politics and current affairs.

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