Last Updated on: 13th July 2023, 03:40 pm
IMF Will Now Give Loan To Pakistan
A crucial meeting of the Executive Board of the International Monetary Fund (IMF) will be held today (Monday) to approve the release of a 1.17 billion USD tranche of loans to Pakistan.
The IMF Board will review the country’s seventh and eighth audits and consider extending the IMF’s lending program and increasing its amount from 6 billion USD to 7 billion USD.
The Government of Pakistan has requested an exemption from certain targets set by the IMF and the Board will also consider this. After approving the release of the IMF loan tranche, friendly countries are expected to invest in Pakistan.
On 15th August Finance Minister Miftah Ismail announced that Pakistan had returned the signed MoU to the International Monetary Fund.
Speaking to the media in Islamabad, Miftah Ismail said the MoU to the IMF was sent after he and the acting Governor of the State Bank of Pakistan (SBP) signed it.
On 12th August the International Monetary Fund (IMF) accepted Pakistan’s memorandum of understanding and sent it to the country for signature.
Also Read: Federal Govt Informs The IMF That It Has Complied With All Previous Measures
“Pakistan Has Achieved All Goals”
The International Monetary Fund (IMF) has confirmed that Pakistan has met all targets set for revitalizing the Extended Financing Facility (EFF) program.
Speaking exclusively to the News Media Official, International Monetary Fund representative in Islamabad, Esther Pérez Ruiz, said Pakistan had met all of the fund’s financial targets and the latest measure was achieved on July 31 by expanding the tax on gas.
Also Read: Pakistan Seeks Help From US To Negotiate Deal With IMF