ISLAMABAD- The International Monetary Fund today approved the release of $501.4 million to Pakistan and praised Pakistan’s efforts for stabilizing the economy. The organization urged the PML-N government to continue reforms in the country.
The decision regarding loan tranche worth $520 million was made by the Executive Board of the IMF in Washington. The approval was expected, as the government had comfortably met all targets set for the period. The Board also approved the sixth review of Pakistan’s economy.
Unlike in the previous five reviews, this time Pakistan did not need any waiver. According to IMF, the total disbursements would now touch $3.7 billion.