Intern­ationa­l credit­or approv­es loan to suppor­t Pakist­an’s econom­ic plan and improv­e standa­rds of living­KARACHI: In line with expectations, the International Monetary Fund’s (IMF) Executive Board approved the $6 billion loan package for Pakistan. IMF spokesperson Gerry Rice tweeted, “IMF Executive Board approved today a three-year $6 billion loan to support Pakistan’s economic plan, which aims to return sustainable growth to the country’s economy and improve the standards of living.”IMF Executive Board approved today a three-year US$6 billion loan to support #Pakistan’s economic plan, which aims to return sustainable growth to the country’s economy and improve the standards of living. The IMF is expected to release the first tranche of $500 million in the current month. “IMF Board approved a $6 billion Extended Fund Facility (EFF) for Pakistan to support our economic reform program. Social spending has been strengthened to completely protect vulnerable segments.”IMF Board approved a $6 billion Extended Fund Facility (EFF) for Pakistan to support our economic reform program.

Source: The Express Tribune July 03, 2019 16:52 UTC