Defact­o financ­e minist­er said approv­al of the EFF by IMF has 'sent across a positi­ve messag­e about Pakist­an'Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Thursday stated International Monetary Fund’s (IMF) loan of $6 billion will bring sustainable economic growth to the country, Radio Pakistan reported. Addressing a news conference along with Minister of State for Revenue Hammad Azhar and Federal Board of Revenue (FBR) Chairman Shabbar Zaidi in Islamabad, Hafeez said no member of the IMF Executive Board had opposed the loan program for Pakistan. The defacto finance minister said the approval of the Extended Fund Facility by IMF has “sent across a positive message about Pakistan, encouraging other international financial institutions to release funds to Pakistan”. According to Hafeez, the Asian Development Bank will also be providing $3.4 billion dollars additional funds, $2.1 billion of which will be released this year. “World Bank will also give additional funds to Pakistan.

Source: The Express Tribune July 04, 2019 09:56 UTC