IMF to release $540m tranche to Pakistan under EFF programme

Earlier this year, the IMF approved financing arrangements under the EFF for $6.64 billion to support Pakistan.


Web Desk March 24, 2014
The $540 million disbursement is expected to be released soon. PHOTO: FILE

The International Monetary Fund (IMF) Board on Monday cleared the second review of its Extended Fund Facility (EFF) programme with Pakistan.



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)

the Skunk | 10 years ago | Reply

@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

Syed shahnawaz Ahmad | 10 years ago | Reply Well done Finance minister you made your promise we trust you can boost our foreign exchange reserves to 17 billion US$ at end of 2014.
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