The Executive Board of the International Monetary Fund (IMF) today approved immediate disbursement of USD1.2 billion to Pakistan following a third review of its economic performance.
With this Pakistan has so far received USD 6.54 billion from the IMF under this programme supported by a Stand-By-Arrangement.In November 2008, the IMF had approved about USD8.11 billion; which are being disbursed in phases; based on Pakistan's economic performance.
Noting that stabilisation was progressing on the macro front and appreciating the steps being taken by the government towards structural reform in putting in place the framework for moving toward a value-added tax; the IMF?s Mission Chief to Pakistan Adnan Mazarei said "significant challenges remain for the country".
Wednesday, December 23, 2009
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