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The IMF Executive Board meeting approved the release of $1.1 billion tranche for Pakistan

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Geneva (Web Desk) The Executive Board of the International Monetary Fund (IMF) has approved the release of the final tranche of $1.10 billion for Pakistan under the Standby Arrangement (SBA).

On April 20, the IMF released the meeting schedule, saying that Nigeria’s debt program will be reviewed on April 29, followed by Kiribati and Montenegro’s programs at the May 1 meeting.

Earlier statements by IMF and Pakistani officials indicated that the board will approve the release of the final $1.1 billion tranche under the SBA program at its meeting on April 29, with the agreement ending in June 2023. I am the wind .

After the IMF calendar sparked speculation in Pakistan that the country was off the board’s agenda, some believed that Pakistan would have to renegotiate to receive the final tranche.

A former World Bank official said that these speculations are baseless, adding that the IMF does not operate in such a way that when a decision to delay a program is made, it is made openly, not secretly.
Read more: IMF Executive Board meeting tomorrow, expected to approve $1.1 billion tranche for Pakistan
He explained that even if the meeting could be delayed due to scheduling complications, it would not normally affect a program after agreement at the staff level.

It should be noted that on March 20, the staff level agreement was reached between Pakistan and the IMF, as a result of this development, the way was prepared for the release of one billion 10 million dollars for in the final installment of the loan for Pakistan. .

Pakistan received one billion and 90 million dollars from the IMF in two phases.

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