IMF Passes $497 Mln Tranche For Pakistan

http://www.worldeconomicissues.com/2016/02/imf-passes-497-mln-tranche-for-pakistan.html
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.