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IMF agrees to release $1.17B tranche to Pakistan

ISLAMABAD: Finance Minister Miftah Ismail has taken to the twitter to inform that executive board of IMF has  approved the seventh and eighth review of the stalled $6 billion Pakistan program. 

“Alhamdolillah the IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion. I want to thank the Prime Minister Muhammad Shehbaz Sharif for taking so many tough decisions and saving Pakistan from default. I congratulate the nation,” Miftah stated.

IMF had confirmed on 2nd of August, 2022 that Pakistan had completed the last precondition for the seventh and eighth reviews. IMF had informed that in that connection a board meeting would be held on Monday 29th of August, 2022.  Resident Representative of IMF for Pakistan Esther Perez Ruiz too had confirmed by means of a Media statement that Pakistan had completed the last precondition by augmenting oil levy.

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.