{"id":88316,"date":"2022-08-30T11:40:09","date_gmt":"2022-08-30T06:40:09","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88316"},"modified":"2022-08-30T11:40:14","modified_gmt":"2022-08-30T06:40:14","slug":"imf-usd-1-17-bn-loan-pakistan-eff","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/imf-usd-1-17-bn-loan-pakistan-eff.html","title":{"rendered":"IMF approves USD 1.17 bn loan for Pakistan under EFF"},"content":{"rendered":"\n<p>Islamabad: The Executive Board of the International Monetary Fund (IMF) on Monday (August 29) approved USD 1.17 billion loan facility for Pakistan under the Extended Fund Facility (EFF), news sources reported.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/paks-financing-fully-met-imf-program.html\" data-type=\"post\" data-id=\"87747\" target=\"_blank\" rel=\"noreferrer noopener\">\u2018Pak\u2019s financing needs will be fully met under IMF program\u2019<\/a><\/p>\n\n\n\n<p>The programme was further extended by the board to last through the end of June 2023. According to the approval, Pakistan will receive the 7th and 8th tranches of the EFF, as well as an increase in the total disbursement under the \u2018rephasing and augmentation\u2019, giving Pakistan access to the funds worth SDR 720 million (USD 934 million), bringing the total access under the<a href=\"https:\/\/www.zameen.com\/news\/imf-7th-8th-loan-tranches-august-20.html\" data-type=\"post\" data-id=\"87740\" target=\"_blank\" rel=\"noreferrer noopener\"> EFF to approximately USD 6.5 billion<\/a>. In a statement, IMF Deputy Managing Director and Acting Chair Antoinette praised the government&#8217;s efforts to stabilise the country&#8217;s macroeconomic outlook and budgetary tightening to reduce inflation. According to the statement, the Pakistani government has experienced external challenges that have put pressure on economic growth.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pakistan-receive-usd-117-eff.html\" data-type=\"post\" data-id=\"87295\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan to receive USD 117 bn under Extended Fund Facility (EFF)<\/a><\/p>\n\n\n\n<p>It is worth noting that the government signed an EFF with the IMF in 2019 for USD 6 billion of foreign assistance. However, the government fell short of its budgetary projections for the seventh and eighth tranches. To ensure budgetary sustainability, the government had to renegotiate its agreement with the IMF. Pakistan has also obtained USD 4 billion from <a href=\"https:\/\/www.zameen.com\/news\/qatar-pakistan-2-bn-bilateral-support.html\" data-type=\"post\" data-id=\"88158\" target=\"_blank\" rel=\"noreferrer noopener\">Gulf countries<\/a> to help with development and to keep a surplus.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Executive Board of the International Monetary Fund (IMF) on Monday (August 29) approved USD 1.17 billion loan facility for Pakistan under the Extended Fund Facility (EFF), news sources reported. Read: \u2018Pak\u2019s financing needs will be fully met under IMF program\u2019 The programme was further extended by the board to last through the end of June 2023. According to the approval, Pakistan will receive the 7th and 8th tranches of the EFF, as well as an increase in the total disbursement under the \u2018rephasing and augmentation\u2019, giving Pakistan access to the funds worth SDR 720 million (USD 934 million), bringing the total access under the EFF to approximately USD 6.5 billion. In a statement, IMF Deputy Managing Director and Acting Chair Antoinette praised the government&#8217;s efforts to stabilise the country&#8217;s macroeconomic outlook and budgetary tightening to reduce inflation. According to the statement, the Pakistani government has experienced external challenges that have put pressure on economic growth. Read: Pakistan to receive USD 117 bn under Extended Fund Facility (EFF) It is worth noting that the government signed an EFF with the IMF in 2019 for USD 6 billion of foreign assistance. However, the government fell short of its budgetary projections&hellip;<\/p>\n","protected":false},"author":84,"featured_media":87304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[53793,53792,53791,53794],"persona":[],"class_list":{"0":"post-88316","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-eff-imf-loan","9":"tag-extended-fund-facility-imf","10":"tag-imf-approves-usd-1-17-bn-loan-for-pakistan-under-eff","11":"tag-pakistan-loan-imf","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF approves USD 1.17 bn loan for Pakistan under EFF - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Executive Board of the International Monetary Fund (IMF) on Monday (August 29) approved USD 1.17 billion loan facility for Pakistan under\" \/>\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-usd-1-17-bn-loan-pakistan-eff.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF approves USD 1.17 bn loan for Pakistan under EFF - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Executive Board of the International Monetary Fund (IMF) on Monday (August 29) approved USD 1.17 billion loan facility for Pakistan under\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/imf-usd-1-17-bn-loan-pakistan-eff.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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