Decision comes after Islamabad gave absolute autonomy to SBP
The executive board of the International Monetary Fund on Wednesday revived Pakistan’s stalled programme and cleared $1 billion tranche after Islamabad gave absolute autonomy to the central bank and took around Rs800 billion measures.
The executive board, that met in Washington, also waived off few conditions to pave the way for the release of the fourth loan tranche under the sixth review of the $6 billion Extended Fund Facility. The government has missed the primary budget deficit reduction target. The programme was suspended since June last year.
“I am pleased to announce that the IMF board has approved sixth loan tranche of its programme for Pakistan,” tweeted Finance Minister Shaukat Tarin on Wednesday.
The finance minister’s tweet suggested that it was the IMF’s programme however, IMF has always said that it is Pakistan’s programme.
After dragging feet for eight months, the government of Prime Minister Imran Khan signed off all the conditions that it tried to resist first in June and then in October last year.
