Monday August 29, 2022

Vital IMF Huddle For Revival of Bailout Package For Pakistan Today

The executive board of the International Monetary Fund (IMF) is all set to meet today (Monday) to consider the loan plan for Pakistan۔

Pakistani authorities of the cash-strapped nation expect the resumption of the month-long stalled $6 billion bailout programme.

However, a rally in the nation’s assets may fizzle out amid escalating political tensions.

Pakistan also made a request to the Fund’s Board to augment the Extended Fund Facility (EFF) from $6 billion to $7 billion and jack up the timeframe from September 2022 to June 2023.

Experts say Pakistan will win a loan approval from the IMF board when it meets on Monday, “paving the way for the release of $1.2 billion in immediate funds.”

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