SLAMABAD: The International Monetary Fund (IMF), under a three-year bailout package, has released the last tranche of $506.4 million to Pakistan.
The decision was taken by the IMF Executive Board meeting in Washington after approving the seventh review of Pakistan’s economy for the period of January-March of the outgoing fiscal year.
In September 2013, the IMF had approved a three-year Extended Fund Facility amounting to $6.6 billion. With the fresh approval, the IMF’s total disbursements since September 2013 have come to $4.1 billion.
With the approval of the seventh review, Pakistan has crossed the midpoint. So far, the focus of the IMF remained on quantitative targets. The IMF now wants to shift to critical structural reforms.
