Pakistan Meets Conditions to Receive Next $500 Million From IMF
The IMF and Pakistan reached a staff-level agreement that Pakistan had completed reforms required for the release of around $500 million that had been suspended for about a year.
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, US. photo: Reuters/Yuri Gripas
Islamabad: The International Monetary Fund (IMF) and Pakistan on Tuesday reached a staff-level agreement that Pakistan had completed reforms required for the release of around $500 million in IMF funds that had been suspended for about a year.
“The package strikes an appropriate balance between supporting the economy, ensuring debt sustainability and advancing structural reform,” the Fund said in a statement issued by both sides. “Pending approval of the Executive Board, the reviews’ completion would release around US $500 million.”