Pakistan received the first tranche of $1.2 billion from the IMF
ISLAMABAD: Pakistan has received the first tranche of $1.2 billion from the IMF.
While giving a press conference in Islamabad, Federal Finance Minister Ishaq Dar said that the International IMF has transferred the first installment of one billion 20 million dollars to the State Bank.
Finance Minister Ishaq Dar said that Pakistan will get 3 billion dollars under the IMF program, the IMF program is for 9 months, and Pakistan will get 3 billion dollars.
Ishaq Dar said that our total foreign exchange reserves are expected to be between 13 to 14 billion dollars. This week, the reserves of the State Bank have increased by 4 billion 20 million dollars. State Bank will issue its report in this regard.
He said that the remaining 1 billion 800 million dollars of the loan program will be given to Pakistan after 2 review reports.
He said that Prime Minister Shehbaz Sharif’s role in the negotiations with the IMF has been important, apart from him, the government’s economic team also supported them in the difficult journey.
It should be noted that the Executive Board of the International Monetary Fund has approved a loan program of 3 billion dollars for Pakistan.
According to the IMF statement, $1.8 billion will be disbursed after reassessment in November and February. It will help Pakistan’s economy to overcome internal and external imbalances.