IMF resumes discussions with Pakistan to complete second review for EFF program

MG News | May 28, 2020 at 10:50 AM GMT+05:00

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May 23, 2020 (MLN): International Monetary Fund (IMF) has resumed discussions with Pakistan to complete the second review for extended fund facility program, which was deferred last month due to outbreak of the pandemic.

In this regard, the IMF Communications Department Director Gerry Rice has said that the technical discussions continue with the Pakistani authorities on the extended fund facility (EFF).

“This would be the second review,” Rice said in a statement.

“We hope to bring it to a positive conclusion as soon as possible,” she added.

Last year, IMF approved $6 billion loans to Pakistan under a three-year EFF program and Pakistan has already received two tranches under the loan program.

Rice said extended fund facility, which was in place before the crisis hit, remains in effect and the discussions were paused due to the outbreak of the pandemic.

Earlier, Pakistan got 1.4 billion under rapid financing instrument, to help combat COVID-19.

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