IMF board likely to approve loan today

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WASHINGTON: The executive board of the International Monetary Fund (IMF) is likely to approve a $7.6 billion package for Pakistan on Monday.

The board meeting will be held today in Washington. The board members will review the loan request by Pakistan under standby arrangements.

The official signing ceremony of loan agreement between Pakistan and International Monetary Fund (IMF) is likely to take place today after which the first instalment will be released.

IMF has approved $7.6 billion for Pakistan.

After the approval, the money will be transferred today to the State Bank of Pakistan’s account in New York, sources said.


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