IMF agrees to release USD 1 billion to Pakistan

WASHINGTON :  The International Monetary Fund (IMF) has agreed to release another USD 1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis.
With this, the total disbursements under the arrangement is about USD 3.2 billion, a statement said after the IMF Executive Board completed the fourth and fifth reviews of Pakistan’s economic performance under a three-year programme supported by an Extended Fund Facility (EFF).
The IMF saved Pakistan from possible default by agreeing last September to lend it USD 6.8 billion over three years.
In completing the fourth and fifth reviews, the Executive Board also approved the authorities’ request for waivers of non-observance of performance criteria on the basis of the corrective measures taken, including prior actions on net domestic assets and on government borrowing from the State Bank of Pakistan. (AGENCIES)

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