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IMF will release $500m to Pakistan

KARACHI: Following inking an agreement IMF would release $500 million to Pakistan. 

IMF has stated in this regard that: “Pending approval of the Executive Board, the reviews’ completion would release around US$500 million…

“The package strikes an appropriate balance between supporting the economy, ensuring debt sustainability, and advancing structural reform.”

Due to COVID-19 Pandemic the IMF team held virtual discussions with authorities here and reached a staff-level agreement on Tuesday 16th of Feb., 2021.

According to details IMF Mission Chief to Pakistan Ernesto Ramirez Rigo, visited Capital during 3-13 February, to initiate discussions on the second review of the economic reform program.

It may further be recalled that earlier a 39-month EFF arrangement for the amount US$6 billion was approved by the Executive Board.

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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.