Monday, 17 May 2021

Pakistan hopes IMF will approve $6b bailout package

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package.
(AP Photo/Cliff Owen)

ISLAMABAD: Pakistan believes that International Monetary Fund (IMF) would approve bailout package worth of $6 billion in its executive board meeting on July 3, 2019 as Islamabad has taken all advance actions agreed with the Fund.

Pakistan had agreed with the IMF for taking tough economic decisions before the Fund executive board meeting, which would consider approving loan programme for Islamabad. An IMF mission led by Ernesto Ramirez Rigo visited Pakistan from April 29 to May 11, to discuss IMF support for the authorities’ economic reform programme. On 12 May 2019, Pakistani authorities and the IMF team reached a staff level agreement. The agreement is subject to IMF Executive Board approval, which would meet on July 3.

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