Pakistan on Thursday received first tranche of $1.2 billion from the International Monetary Fund (IMF) under the SBA programme. The International Monetary Fund (IMF) on Wednesday night approved a $3 billion loan for Pakistan after signing the staff-level agreement last month. The International Monetary Fund (IMF) had transferred an amount of $1.2 billion to the State Bank of Pakistan, Finance Minister Ishaq Dar confirmed in a televised statement here in Islamabad. Noting that Prime Minister Shehbaz Sharif played a pivotal role in the reaching the deal with the IMF, Ishaq Dar said the economic team had extended full support to him during the complicated process. The country was gain on the move towards development, said the finance minister who stressed that everyone would have to contribute for continuing the journey.

Source: The Nation July 13, 2023 15:49 UTC