Pakistan reaches agreement with IMF, to get USD 6 bn over 3 yrs: top official
The Agreement Now Awaits A Formal Approval By The International Monetary Fund (IMF) Board, Reported Dawn News.
Pakistan has reached an agreement with the IMF on a bailout package under which the cash-strapped country will receive USD 6 billion over three years, according to a top official on Sunday.
The agreement now awaits a formal approval by the International Monetary Fund (IMF) board, Dawn news quoted Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh as saying.
Pakistani technical teams have reached an agreement with the IMF on a bailout package, he said. Pakistan would receive USD 6 billion worth of assistance under the IMF programme over a period of three years, Shaikh told the state-run PTV News.
“The Pakistani authorities and the IMF team have reached a staff level agreement on economic policies that could be supported by a 39-month Extended Fund Arrangement (EFF) for about USD 6 billion,” IMF Mission Chief for Pakistan Ernesto Ramirez Rigo said in a statement.
For all the Latest World News, Download News Nation Android and iOS Mobile Apps.
More from World
EUFSC President Konstantin Ishkhanov “Thrilled†to Announce Opening of InClassica Festival in Dubai
Maiden Al-Mohed Al-Hindi Exercise Set to Begin Between Indian Navy and Saudi Arabia Navy
Excellent job by India in reducing COVID-19 related deaths by clamping lockdown: Indian-American doc
Pak summons Indian diplomat over expulsion of 2 High Commission officials on espionage charges
Trump postpones G7 summit, wants India, others to join group