IMF board meeting approves additional loan approval for Pakistan

DJ Kamal Mustafa April 16, 2020

WASHINGTON: The IMF Executive Board will meet today, in which Pakistan is expected to approve additional loans to tackle Corona.

According to details, the International Monetary Fund (IMF) executive board meeting will be held today, the meeting will consider Pak’s additional loan application and approve a loan of one billion 40 million dollars for Pakistan.

This extra money will be spent on the crisis caused by the Coronavirus; if approved, the amount will be released immediately, plus no terms will be placed with the loan related to Corona and The money will be in addition to the loan program already in place.

It is also likely that decisions will be made on the nature of the loan program that is already in place in Pak.

Remember that IMF MD Kristalina Georgieva said there was a slowdown in Pakistan’s economic reform process from Corona. Pak has requested additional funding from the IMF.

He said that this financial support will help in dealing with the difficult situation, our team is working fast on this response and the IMF is always ready to help Pakistan in a difficult situation.

Pak is thought to have requested an additional loan three weeks ago, on which IMF officials said $ 1.4 billion would be released to Pakistan next week.

It is important to note that the IMF is trying to assist countries to fight the Coronavirus. Earlier, there was a joint meeting of the Finance Ministers of the Twenty20 Countries and the IMF in which decisions were made on the issue of Coronavirus damage.

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