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Pakistan, IMF reach agreement on second review of $6 billion bailout package

Christian 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.
IMF Pakistan
Economy in Pakistan   IMF Pakistan
The financial aid is an attempt to help the country bail out its slowing economy, improve public finances and reduce debt.

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.


 

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