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4th, 5th review completed: IMF executive board okays release of $1.05b to Pakistan

4th, 5th review completed: IMF executive board okays release of $1.05b to Pakistan

ISLAMABAD: The IMF Executive Board completed fourth and fifth reviews of Pakistan’s economic performance and granted release of $1.05 under its $6.8 billion three-year Extended Fund Facility (EFF).

As per reports, the International Monetary Fund (IMF) agreed to release another $1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis.

With this, the total disbursements under the arrangement will reach about $3.2 billion.

The executive board also approved the authorities’ request for waivers of non-observance of performance criteria on the basis of the corrective measures taken, including prior actions on net domestic assets and on government borrowing from the State Bank of Pakistan.