IMF approves 8th tranche of $504.8m for Pakistan
WASHINGTON – The International Monetary Fund (IMF) has approved 8th installment of 500 million dollar loan for Pakistan.
The tranche was approved by the Executive Board of the International Monetary Fund (IMF) after the IMF completed the eighth review of Pakistan’s economic performance under a 36-month program supported by an Extended Fund Facility (EFF) arrangement.
The Executive Board’s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about US$504.8 million), bringing total disbursements to SDR 3.24 billion (about US$4.54 billion).On September 4, 2013, the Executive Board approved the three-year extended arrangement under the EFF in the amount of SDR 4.393 billion (about U$S6.64 billion).
Excluding the fresh payment, the IMF since late 2013 has provided 4.2 billion dollars out of the 6.6 billion dollar loan.