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Pakistan seeks remaining $ 452 million from IMF


The News or Article published here is property of the givenSource and they have all the ownership rights Source link http://www.dailybusinessnews.pk/2019/12/13/pakistan-seeks-imfs-next-452-million-remaining-payment/

ISLAMABAD: The Prime Minister’s adviser on finance, Dr. Abdul Hafeez Shaikh and Dr. Reza Baqir Governor State Bank of Pakistan (SBP), signed a letter of intent and sent it to IMF headquarters for approval next $ 452 million next week.

The IMF’s Executive Board is scheduled to meet next week on December 19 in Washington to approve the first review and release of the second tranche of $ 6 billion under the Extended Financing Facility (EFF).

The letter signed by Shaikh and Baqir demonstrated Islamabad’s commitment to continue all the reforms and conditions it has undertaken, so the executive council approves the release of the next installment of $ 452 million.

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