IMF reaches agreement to revive funding to Pakistan: Statement

23 November, 2021
IMF reaches agreement to revive funding to Pakistan: Statement
The International Monetary Fund (IMF) said on Monday (Nov 22) it has reached a staff-level agreement to revive stalled funding for Pakistan.

"The Pakistani authorities and IMF staff have reached a staff-level agreement on policies and reforms needed to complete the sixth review," the IMF said in a statement.

It said completion of the review would make available SDR 750 million, or approximately US$1.059 billion, bringing total disbursements so far to about US$3.027 billion.

Pakistan entered a US$6 billion funding programme with the IMF in 2019, however, the funding stalled earlier this year due to reforms issues.
Source: www.channelnewsasia.com
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