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USD 1 Billion to be Released by IMF Following Sixth Review

ISLAMABAD: According to news sources, Finance Minister Shaukat Tarin announced on Wednesday that the International Monetary Fund (IMF) has completed its sixth evaluation of Pakistan under the Extended Fund Facility (February 02). This qualifies Pakistan to receive 750 million SDR or 1 billion USD.

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During a review meeting conducted in Washington, the board examined Pakistan’s progress with respect to fiscal stability and macroeconomic reforms. Originally scheduled for January 12, this meeting was postponed to January 28 due to Pakistan’s desire to introduce a crucial State Bank Autonomy Bill. This request was an important subject of discussion between the IMF and Pakistan.

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According to the government of the country, this IMF fund will help battle the impacts of COVID-19-induced inflation and enhance the country’s labor market.

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