Monday , September 16 2019

IMF approved a loan of $ 6 billion for Pakistan

IMF approved a loan of $ 6 billion for Pakistan

The International Monetary Fund’s (IMF) executive board has approved a three-year, $6 billion loan “to support Pakistan’s economic plan, which aims to return sustainable growth to the country’s economy and improve the standards of living,”

IMF Board has released $ 1bn to Pakistan immediately. These funds will review the performance of Pakistan over 39 months, will require additional assistance from time to time. This is Pakistan’s 13th International Program. Pakistan will get $ 2 billion a year under an Extended fund facility (EFF). The FFF provides support for comprehensive programs Which include capacity and character policies Which are necessary to correct structural imbalance during a broad period. The aim of the program is that [Pakistani] officials’ strategy to strengthen the domestic and external discretion, strengthen the business environment, strengthen institutions, increase transparency, and protect social costs for robust and more balanced development. To help

Dr. Abdul Hafeez Shaikh said that the IMF Board approved a $6 billion Extended Fund Facility (EFF) for Pakistan to support our economic reform program. Our program supports broad-based growth by reducing imbalances in the economy. Social spending has been strengthened to completely protect vulnerable segments.