In a reflection of continued confidence in the direction of Pakistan’s economy, the International Monetary Fund Friday released a $555.9 million tranche for the country upon completion of the third review of Islamabad’s economic performance.
“The completion of the review enables an immediate disbursement of an amount equivalent to SDR 360 million (about US$555.9 million),” the Fund said.
The statement came as the IMF Executive Board completed the third review of Pakistan’s economic performance under a three-year program supported by an arrangement under the Extended Fund Facility (EFF).
The IMF had approved a $ 6.78 billion program for Pakistan on September 4, 2013, with a 36-month extended arrangement under the extended fund facility.
Over the last year, Pakistan’s economy has shown improvement in a number of macro-economic areas and the country is also pursuing reforms in key sectors.
June 27, 2014