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IMF approves 6.7 billion dollars loan for Pakistan

Published: 05th September 2013 08:49 AM  |   Last Updated: 05th September 2013 08:49 AM   |  A+A-

By IANS

The International Monetary Fund (IMF) approved Wednesday a $6.7-billion loan programme for Pakistan to support the country's economic reform for promoting inclusive growth.

The three-year loan arrangement under the Extended Fund Facility (EFF) was authorised by the IMF's executive board, and the approval enabled an initial disbursement of $540 million, reported Xinhua citing IMF in a statement.

"The remaining amount will be evenly disbursed over the duration of the program, subject to the completion of quarterly reviews," it added.

The programme is expected to help the economy rebound, forestall a balance of payments crisis and rebuild reserves, reduce the fiscal deficit, and undertake comprehensive structural reforms to boost investment and growth.

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