Pakistan, IMF reach agreement on second review of $6 billion bailout packageChristian Fernsby ▼ | February 28, 2020
The International Monetary Fund yesterday said it has reached a staff-level agreement with Pakistan on “policies and reforms” to complete the second review of the $6 billion bailout package, Dawn reported.
Economy in Pakistan IMF Pakistan
Topics: Pakistan IMF
The announcement was made by IMF’s Mission Chief for Pakistan Ernesto Ramirez Rig after holding a series of engagements with Pakistan’s Adviser to the Prime Minister on Finance and Revenue Hafeez Shaikh, Governor of the State Bank of Pakistan Reza Baqir and Finance Secretary Naveed Kamran Baloch over the past two weeks.
The agreement now awaits the approval of the International Monetary Fund Executive Board, which is expected in April.
Once the review of the deal is completed, the organisation will make disbursement of around USD 450 million. ■