IMF Greenlights $1.1 Billion Loan Installment for Pakistan

 

Pakistan Receives Final $1.1 Billion Tranche from IMF Loan Program

Lahore, Pakistan - The International Monetary Fund (IMF) Executive Board approved the disbursement of the final $1.1 billion tranche of a $3 billion loan program to Pakistan. This marks the completion of a 9-month Stand-By Arrangement (SBA) critical for the country's economic stability.

"The disbursement signifies the IMF's acknowledgment of Pakistan's progress in implementing economic reforms," stated a government official. The SBA provided Pakistan with much-needed financial assistance to avoid sovereign debt default.

Pakistan received the first tranche of $1.9 billion earlier in the program. The final installment will bolster the country's foreign exchange reserves and support ongoing economic reforms.

The Stand-By Arrangement typically involves policy commitments by the borrower in exchange for IMF loans. The specific details of Pakistan's SBA and the implemented reforms have not been made public.

This development comes as Pakistan grapples with a challenging economic situation. The IMF's continued support indicates confidence in the country's efforts towards economic stabilization.