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Business Pakistan

IMF team gives green signal for release of $550m to Pakistan

DUBAI: Pakistan’s talks with an International Monetary Fund (IMF) review mission in Dubai has been successful as the Fund’s mission recommended the release of the sixth tranche amounting to $550 million to Pakistan.

The six-day technical talks between the mission and Pakistan concluded in Dubai.

Chief of IMF Mission to Pakistan Jeffery Franks led the team which held talks with the Pakistani delegation headed by Finance Minister Ishaq Dar. State Bank Governor Ashraf Wathra and other senior officials of Finance Ministry were also present.

Herald Finger, who will replace Jeffrey Franks, also joined the six-day technical talks between the two delegations.

Dar and Franks also held a joint press conference after the talks.

The recommendations reached on the completion of the sixth review of Pakistan’s $6.6bn three years Extended Fund Facility (EFF), approved by the IMF’s executive board in September 2013, will be forwarded to the the IMF Executive Board in the United States which would give final approval for the release of $550 million tranche.


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