The second tranche of $550 million has been issued by IMF under the $6.6 billion loan programme for Pakistan. Finance ministry sources confirmed that the second tranche from IMF will be received soon. The approval was given by the board of directors of IMF.
The loan program of 6.6 billion dollars for Pakistan was approved by IMF in September, 2013 for stabilizing the economy and also boosting the growth while safeguarding the safety net to poor. The 36 months program will help Pakistan reducing its deficit and also bringing down the inflation. Earlier IMF Officials have also asked Pakistani government to take steps for the betterment of poor and they should not suffer while implementing economic reforms as per IMF’s plan for economic development.
Pakistan entered into an agreement under extended fund facility in Sep, 2013 for correction of structural imbalances over an extended period. The repayment period is comparatively longer 41/2 to 10 years, with repayment in twelve semi-annual installments.