Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
Islamabad (Web Desk) The International Monetary Fund (IMF) has approved a bailout package of 7 billion dollars for Pakistan.
The executive board meeting was held under the chairmanship of IMF MD Cristina Georgioua, where Pakistan was at the top of the agenda.
According to sources in the Ministry of Finance, Pakistan is likely to receive the first installment of $1.1 billion by September 30. After the approval of the loan program, the second installment will also come in the same financial year.
Sources say the IMF loan will be available at an interest rate of less than 5 percent.
Speaking to journalists, State Bank Governor Jameel Ahmed said that Pakistan will get the first installment of up to one billion or one billion 10 million dollars.
He said that Pakistan has fulfilled all the conditions of the IMF.
Earlier, speaking in New York, Prime Minister Shehbaz Sharif said to fulfill the strict conditions of the IMF, he is grateful to Saudi Arabia, China and the United Arab Emirates, without their support it would not have been possible.
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(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://dailyausaf.com/pakistan/2024/09/25/62277/
