IMF approves $3bn loan for Pakistan

After signing a staff-level agreement last month, the International Monetary Fund approved a $3 billion loan for Pakistan.

According to the facts, the loan was approved by the International Monetary Fund’s (IMF) Executive Board.

According to an official announcement, the International Monetary Fund has recommended that $1.2 billion be disbursed immediately, with the remaining $1.8 billion to be distributed in two installments in November and February following a review of the programmes.

The IMF executive board stated that Pakistan must closely adhere to the measures negotiated in the IMF agreement, as well as the budgetary targets.

According to the statement, Pakistan must maintain a market-based exchange rate and implement a tight monetary policy.

UAE deposited $1 billion to SBP today: Ishaq Dar

Finance Minister Senator Ishaq Dar stated earlier today that Pakistan had received $1 billion in financial support from the friendly country of the United Arab Emirates (UAE). The United Arab Emirates (UAE) deposited $1 billion in foreign exchange reserves with Pakistan’s central bank.

It is worth noting that Pakistan signed a much-needed $3 billion staff-level agreement with the International Monetary Fund (IMF) on June 30. The International Monetary Fund (IMF) reported that a “Stand-By Arrangement” worth $3 billion was successfully concluded with Pakistan.

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