Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News AD
Mettis Global News AD

Trending :

IMF board to meet on January 11 to discuss Pakistan’s loan program

Political turmoil increases Pakistan's default risk
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

December 08, 2023 (MLN): The International Monetary Fund’s executive board will meet on January 11, 2024 to consider final approval to disburse the next $700 million tranche from its current loan program, according to a spokeswoman, as reported by Bloomberg.

Last month, Pakistan secured initial approval from the IMF for the release of the next loan tranche under the current $3 billion loan program, and the board typically approves such deals, Bloomberg added.

The South Asian nation, which is grappling with Asia’s fastest inflation, has about $1 billion in dollar-denominated debt due next year and is scheduled to hold elections scheduled in February.

Interim Finance Minister Shamshad Akhtar said after the staff-level deal in November that the country may seek an additional loan from the IMF, describing the economy as “still fragile.”

Copyright Mettis Link News

Posted on: 2023-12-08T09:53:36+05:00