KARACHI: The State Bank of Pakistan (SBP), while acknowledging the receipt of $1.03 billion IMF tranche on Friday (27th Sept, 2024) told the Media that the amount would be reflected in SBP liquid reserves to be released on Thursday (3rd day of October, 2024).
IMF has approved $ 7 billion EFF (on 25th Sept, 2024) for Pakistan, at an interest rate of less than 5%.
Commenting on the 3-year-program, MD of IMF Kristalina Georgieva stated: “We do have good news. We have completed the review of the programme successfully. I want to congratulate the government of Pakistan and the people of Pakistan for moving forward with the home-defined, Pakistan’s own reforms”.
PM Shehbaz Sharif, while appreciating the support extended by Saudi Arabia, China and the UAE, thanked the MD of IMF Kristalina Georgieva for the approval of Pakistan’s 25th IMF program. Cynics go haywire wondering where all the money had gone since 1958 and why the citoyens of Pakistan have to pay 81 per cent of country’s revenue for internal/external debt servicing!
Newspakistan.tv
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