IMF stands ready to support Pakistan in the wake of Covid-19 crisis: Gerry Rice

By MG News | May 07, 2021 at 01:02 PM GMT+05:00

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May 7, 2021 (MLN): International Monetary Fund (IMF) is ready to support Pakistan to navigate the difficult situation that the country is facing with the Covid-19 crisis, Director IMF Communication Department, Gerry Rice said on Thursday.

While addressing a virtual press briefing, Gerry Rice reiterated that the IMF wants to help Pakistan in the wake of the Covid-19 shock to ensure the objective of debt sustainability with strong and sustainable growth.

He stated that a month ago IMF Executive Board had completed the pending reviews of the financing arrangement we have with Pakistan and based on reviews, the decision by the IMF Board at that time allowed for an immediate disbursement of about $500 million, which brought total disbursements to Pakistan of about $2 billion. The decision by our Board at that time allowed for an immediate disbursement of about $500 million, which brought total disbursements to Pakistan of about $2 billion.

“We are looking forward to continue discussions with the Pakistani government when the time comes for the sixth review,” Gerry Rice said.

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