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IMF Passes $497 Mln Tranche For Pakistan

IMF Passes $497 Mln Tranche For Pakistan
ISLAMABAD: The International Monetary Fund stated on the day of Thursday that it had agreed to issue a $497 million tranche for Pakistan after the recent review of a bailout package granted in the year 2013, though the disbursement still needs IMF board approval.
Once the recent disbursement is made, the IMF will still have to issue $1.1 billion of the total $6.7 billion loan agreed 3 years ago.

"After constructive talks, the mission and the Pakistani officials have reached staff-level agreement on the completion of the 10th review under the EFF (Extended Fund Facility) arrangement," the IMF stated in a statement.

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