1. IMF clears payment of $500 million to Pakistan

IMF clears payment of $500 million to Pakistan

The International Monetary Fund today cleared payment of $501 million for Pakistan taking the total amount given to the country to $6.1 billion in the last few years.

By: | Washington | Published: June 28, 2016 9:21 AM
IMF pakistan The International Monetary Fund today cleared payment of 1 million for Pakistan. (Reuters)

The International Monetary Fund today cleared payment of $501 million for Pakistan taking the total amount given to the country to $6.1 billion in the last few years.

In a statement, issued after the conclusion of 11th review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement, the IMF said the decision enables the immediate disbursement of about $501 million to Pakistan.

This brings the total disbursements to $6.01 billion, the IMF said. In September 2013, the IMF had approved the 36-month extended arrangement under the EFF in the amount of about $6.64 billion at the time of approval of the arrangement.

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