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IMF Board approves $1.1b loan tranche for Pakistan under SBA

By News Desk

April 29, 2024 10:46 PM


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The International Monetary Fund’s (IMF) Executive Board Monday approved a $1.1 billion loan for Pakistan as the last tranche under the $3 billion Stand-by Arrangement (SBA), reported 24NewsHD TV channel.

Pakistan has already received 1.90 billion dollars in two instalments from the global lender. Pakistan has received two tranches of $1.2 billion in July and $700 million in January 2024, totalling $1.9 billion.

A staff-level agreement was reached between Pakistan and the IMF last month. Pakistan, the IMF talks were held under the short-term program of 3 billion dollars.

Pakistan's last review negotiations with the IMF were successfully completed. In the negotiations, the performance of October to December 2023 was reviewed in which tax and energy reforms were the main focus.

Pakistan had fulfilled all the conditions of the IMF for the review.

Reporter: Waqas Azeem


News Desk


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