IMF okays $450m for Pakistan

374

Staff Reorter
Islamabad

Pakistan and the International Monetary Fund reached a staff-level agreement on the first review under the Extended Fund Facility on Friday, according to which Islamabad will receive another installment of US$450 million.
The international money lender issued a press release according to which the end-September performance criteria were met with “comfortable margins and that progress continues towards meeting all structural benchmarks”. The press release stated that the government’s policies were starting to bear fruit as external and fiscal deficits were narrowing and inflation was expected to decline.