{"id":53418,"date":"2019-07-10T12:39:35","date_gmt":"2019-07-10T07:39:35","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=53418"},"modified":"2019-07-10T12:39:35","modified_gmt":"2019-07-10T07:39:35","slug":"imf-releases-first-usd-991-mn-loan-package-instalment","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/imf-releases-first-usd-991-mn-loan-package-instalment.html","title":{"rendered":"IMF releases first USD 991 mn loan package instalment"},"content":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) on Tuesday received the first tranche, worth USD 991.4 million, of the multi-billion loan package pledged by the International Monetary Fund (IMF), a news source reported. The international lender recently committed <\/a>to USD 6 billion under its Extended Fund Facility (EFF) announced for Pakistan.<\/p>\n

Read:\u00a0<\/strong>IMF suggests policy amendments before releasing USD 6 bn loan<\/a><\/p>\n

The said amount will be released on successive reviews of the country\u2019s economic progress over a\u00a0period\u00a0of 39 months. This facility will be primarily used to finance the trade deficit and to pay off some of the existing foreign debts.<\/p>\n

Previously, Advisor to the Prime Minister (PM) on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh had expressed the hope that the successful implementation of the staff-level agreement with the IMF would help Pakistan project a positive global image, as well as convince other international financial institutions (including the World Bank) that the country was ready to transform its economy and implement fiscal discipline.<\/p>\n

Read<\/strong>:\u00a0IMF extends support to uplift Pakistan\u2019s economy<\/a><\/p>\n

For Pakistan, the IMF expects inflows of USD 38 billion <\/a>from various bilateral and multilateral donors, as well as from trade partners, during the next three years. This amount is higher than the estimated USD 25.5 billion requirement for the current fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) on Tuesday received the first tranche, worth USD 991.4 million, of the multi-billion loan package pledged by the International Monetary Fund (IMF), a news source reported. The international lender recently committed to USD 6 billion under its Extended Fund Facility (EFF) announced for Pakistan. Read:\u00a0IMF suggests policy amendments before releasing USD 6 bn loan The said amount will be released on successive reviews of the country\u2019s economic progress over a\u00a0period\u00a0of 39 months. This facility will be primarily used to finance the trade deficit and to pay off some of the existing foreign debts. Previously, Advisor to the Prime Minister (PM) on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh had expressed the hope that the successful implementation of the staff-level agreement with the IMF would help Pakistan project a positive global image, as well as convince other international financial institutions (including the World Bank) that the country was ready to transform its economy and implement fiscal discipline. Read:\u00a0IMF extends support to uplift Pakistan\u2019s economy For Pakistan, the IMF expects inflows of USD 38 billion from various bilateral and multilateral donors, as well as from trade partners, during the next three years. This…<\/p>\n","protected":false},"author":67,"featured_media":51181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[12182],"persona":[],"class_list":{"0":"post-53418","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-imf-releases-first-usd-991-mn-loan-package-instalment"},"acf":[],"yoast_head":"\nIMF releases first USD 991 mn loan package instalment - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Tuesday received the first tranche, worth USD 991.4 million, of the multi-billion loan package pledged by the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/imf-releases-first-usd-991-mn-loan-package-instalment.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF releases first USD 991 mn loan package instalment - 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