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Pakistan : IMF declares immediate financial assistance of USD 555 Million to PAKISTAN

June 28, 2014

The International Monetary Fund (IMF) has announced an immediate financial assistance of USD 555 million to Pakistan.

The immediate assistance is division of its effort to assist the country meet the current economic challenges. The IMF commented "The completion of the review enables an immediate disbursement of an amount equivalent to SDR 360 million (about USD 555.9 million)."

Last year, the IMF Executive Board had given approval to the 36-month expanded arrangement under the Extended Fund Facility (EFF) for the amount of SDR 4.393 billion (about USD 6.78 billion, or 425 per cent of Pakistan's quota at the IMF).

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Source: TendersInfo (India)

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