Islamabad: The International Monetary Fund (IMF) has approved the final installment of the loan program, with an official announcement expected to be issued soon. According to sources in the Ministry of Finance, a meeting of the IMF Executive Board in Washington approved the immediate release of $1 billion to Pakistan.
The approval of the final installment was granted under the Stand-By Arrangement for a $3 billion loan program, of which Pakistan has already received $1.9 billion. The meeting also acknowledged improvement in the Pakistani economy, with the IMF’s funds expected to be fully transferred within 9 months under the Stand-By Arrangement.
Overall, the Executive Board of the IMF recognized progress in the Pakistani economy and emphasized that once the funds are transferred, the Stand-By Arrangement will be completed within 9 months.