Karachi: Pakistan has repaid International Monetary Fund (IMF)’s $39.4 million through 7th installment on Wednesday, a spokesperson of State Bank of Pakistan (SBP) said.
Pakistan has so far repaid $2.52 billion of the IMF’s Stand-by Arrangement (SBA) out of the total debt of slightly more than 7.1 billion loan that it acquired in 2008 after fragile economic conditions and for supporting economy.
Pakistan started repaying debt early this year according to the agreed schedule for repayment of SBA facility. The next installment of IMF loan is due in February 2013, for which SBP is hopeful that country could able to manage it with ease.
The country will have to pay more than $7.82 billion in 12 different installments from 2011-12 to 2014-15.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription