IMF board agrees to extend country's programme by one year
The International Monetary Fund has approved the revival of a massive loan program to Pakistan, the finance minister said Monday, as the country grapples with devastating monsoon flooding that has worsened an economic crisis. "We should now be getting the 7th & 8th tranche of $1.17 billion," Miftah Ismail said on Twitter.
- World
- Reuters
- Published Date: 08:06 | 29 August 2022
- Modified Date: 08:16 | 29 August 2022
The International Monetary Fund (IMF) board on Monday approved a request to extend Pakistan's bailout programme by one year and augment the funding amount by $1 billion, the country's finance minister Miftah Ismail told Reuters.
Earlier he had said on Twitter that the lender had approved the seventh and eighth reviews of Pakistan's programme, which will release $1.17 billion in funds to the cash-strapped country.
The IMF's resident representative in Islamabad did not immediately respond to a request for comment.
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