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.
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.
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.