ISLAMABAD: The International Monetary Fund (IMF) has announced to allocate $650 billion for member countries amid anti-COVID measures as well as Pakistan is also likely to receive 2.8 billion in this regard.
According to a statement issued by the IMF, the new allocation has been increased for member countries to tackle the challenges of the coronavirus. The IMF Board of Governors approved a general allocation of SDRs equivalent to US$650 billion to boost global liquidity.
Meanwhile, $275 billion will be provided to emerging and developing nations. This allocation will be available to all member countries from August 23.
According to the sources of Ministry of Economic Affairs, Pakistan is also likely to get relief from this $650 billion, adding that Pakistan is expected to get $2.80 billion from this decision.
On the other hand, this amount will facilitate the repayment of foreign loans to Pakistan and this amount is expected to be received by the end of this month.
