IMF clears payment of $500 million to Pakistan


WASHINGTON (TIP): The International Monetary Fund cleared payment of $501 million for Pakistan taking the total amount given to the country to $6.1 billion in the last few years.

In a statement, issued after the conclusion of 11th review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement, the IMF said the decision enables the immediate disbursement of about $501 million to Pakistan.

This brings the total disbursements to $6.01 billion, the IMF said. In September 2013, the IMF had approved the 36-month extended arrangement under the EFF in the amount of about $6.64 billion at the time of approval of the arrangement.