IMF loan of $6 billion to bring sustainable economic growth: Hafeez Shaikh

July 4, 2019: Advisor to PM on Finance Dr. Abdul Hafeez Shaikh says IMF's loan of six billion dollars will bring sustainable economic growth to the country. 

Addressing a news conference along with Minister of State for Revenue Hammad Azhar and FBR Chairman Shabbar Zaidi in Islamabad on Thursday, he said no member of the IMF Executive Board opposed the loan program for Pakistan.

The Advisor said the approval of the Extended Fund Facility by IMF has sent across a positive message about Pakistan, encouraging other international financial institutions to release funds to Pakistan.

He said Asian Development Bank will provide 3.4 billion dollars additional funds, and 2.1 billion dollars of the amount will be released this year. He said World Bank will also give additional funds to Pakistan.

The Advisor said these funds will be used for budgetary support.

Posted on: 2019-07-04T15:18:00+05:00