Islamabad: The IMF Executive Board has expressed confidence in Pakistan’s economic program and approved the release of a new tranche of $1.3 billion.
The meeting was held in Washington where the board described Pakistan’s performance as positive.
According to economic sources, Pakistan will receive more than $1 billion under the $7 billion Extended Fund Facility (EFF), while the initial tranche of the RSF program is also part of this approval.
After these releases, the total amount received by Pakistan under both loan programs will increase to $3.3 billion.
According to reports, two tranches of the EFF have already been released to Pakistan, while the government has assured the IMF that continuity in economic reforms will be maintained.
Economic analysts say that this amount will significantly increase the reserves of the State Bank of Pakistan, which will reduce pressure on the rupee and improve the ability to make external payments.
According to them, the IMF’s approval is an important signal of confidence for the Pakistani economy.
