#IMF Board just approved 2nd review of EFF program with #Pakistan. US$540 million disbursement to be released.
— IMF Pakistan (@imf_pakistan) March 24, 2014
The $540 million tranche is expected to be released soon.
Earlier this year, the Executive Board of the IMF had approved financing arrangements under the EFF for $6.64 billion to support Pakistan’s economic reform programme.
It was also reported last week that the $2.5 billion Karachi Circular Railway (KCR) project, which is to be funded by Japan, also depended on the IMF’s verdict on Pakistan’s economic performance.
“Japan is considering funding the KCR but it is eagerly waiting for final approval of the second review by the IMF,” Japan Ambassador to Pakistan Hiroshi Inomata had said.
COMMENTS (4)
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@Lunacyassailam: This is a done deal (third colonization of Pakistan). Pray it does not become Libya, Syria, Egypt, or Saudia because the Jahiliyya' is visible everywhere. Salams
@Kami: It's not being negative but rather being 'sceptical.' So many broken promises, corruption, 'mullah giri,' illiteracy, fraud, no accountability, nepotism, has made the citizens despondent. Collectively or singularly, this is anathema for Pakistan. Salams
The PKR will get stronger, the SBP will intervene, and Shaikh Rashid will again get heartburn. Nevertheless, it is never too late to get started on the KCR with the main beneficiaries PPP and not the people of Karachi. Damn this useless party and Nawaz for the Charter of Democracy (muk muka). Salams
Even a good news is being considered bad by negative people. . I am waiting for Karachi circular railway!
The 3rd colonization of Pakistan has begun.