Pakistan seeks IMF’s next $452 million remaining Payment

ISLAMABAD: Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh and Dr Reza Baqir Governor State Bank of Pakistan (SBP)  signed a Letter of Intent and dispatched it to the IMF headquarters for approval of the next tranche of $452 million next week.

The IMF’s Executive Board is scheduled to meet next week on December 19 in Washington to approve the first review and release of second tranche under $6 billion Extended Fund Facility (EFF).

The letter signed by Shaikh and Baqir demonstrated Islamabad’s commitment that it would pursue all committed reforms and conditions so the executive board grants approval for release of next installment worth $452 million.