IMF to approve $1.43 billion by next week for Pakistan to combat COVID 19

April 09, 2020 (MLN): The IMF and Pakistani authorities are working expeditiously for the approval of $1.43 billion by the Executive Board and disbursement of the Rapid Financing Instrument to confront the COVID-19 shock.

IMF Pakistan announced on its Twitter account that Pakistani authorities remain committed to the EFF policies and reforms. According to sources, Pakistan would be able to borrow $1.43 billion over a single year to meet urgent balance-of-payments needs.

Further, this emergency financing will also allow the government to address support policies that would make it possible to direct funds swiftly to Pakistan’s most affected sectors, including social protection, daily wage earners, and the healthcare system as per the statement of IMF Managing Director Kristalina Georgieva.