IMF approves USD 1 billion loan for Pakistan: Prime Minister's Office
IMF approves USD 1 billion loan for Pakistan: Prime Minister's Office
ISLAMABAD: (May 9) The International Monetary Fund (IMF) on Friday approved the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Facility, the Prime Minister’s Office (PMO) here said.
“Prime Minister Shehbaz Sharif expressed satisfaction over the approval of a USD 1bn dollar instalment for Pakistan by the IMF and the failure of India’s high-handed tactics against it," according to a statement issued by his office.
India earlier raised concerns over the efficacy of IMF programmes in the case of Pakistan, given its poor track record, and also on the possibility of misuse of debt financing funds for state-sponsored cross-border terrorism.
