Today: 28 October 2025
22 November 2021
1 min read

IMF, Pakistan reach deal over 6bn loan

The recent USD 6 billion funding programme dates back to 2019. The funding went through a halt this year due to prevailing reform issues in Pakistan….reports Asian Lite News

;The United Nations (UN) International Monetary Fund (IMF) on Monday said that it has come to an agreement with Pakistan on terms to help revive a USD 6 billion funding programme for the country.

The international financial institution today said that it had reached a staff-level agreement with Pakistani authorities in the context of policies and reforms required to complete the sixth review under the $6 billion Extended Fund Facility (EFF) which has been “in recess” since April.

“The agreement is subject to approval by the Executive Board, following the implementation of prior actions, notably on fiscal and institutional reforms,” IMF’s statement read.

“Completion of the review would make available (Special drawing rights) SDR 750 million (about US$1,059 million), bringing total disbursements under the EFF to about US$3,027 million and helping unlock significant funding from bilateral and multilateral partners. An additional SDR 1,015.5 million (about US$1,386 million) was disbursed in April 2020 to help Pakistan address the economic impact of the COVID-19 shock,” added IMF.

The recent USD 6 billion funding programme dates back to 2019. The funding went through a halt this year due to prevailing reform issues in Pakistan.

The revival of said funding programme is subject to finalisation of the National Socio-economic Registry (NSER) update, adoption of amendments in the National Electric Power Regulatory Authority (Nepra) Act, pending quarterly power tariff adjustments, and payment of the first tranche of outstanding arrears to independent power producers (IPPs) reported Dawn citing IMF sources.

IMF further stressed the necessity to curb inflation, preserve exchange flexibility rate and fortify international reserves, reported Dawn.

Lately, Pakistan has been witnessing currency devaluation, high inflation and a current account deficit while investors have become nervous about the outcome of the talks between the government and the IMF. (ANI)

ALSO READ: Pakistan public mood darkens about PRC despite GHQ efforts

Previous Story

UK invites ASEAN to G-7 meeting

Next Story

India’s SII to deliver jabs to COVAX

Latest from -Top News

Gazans Struggle to Revive Life

Today, Gaza’s markets seem to awaken from beneath the ruins. Partially destroyed shops opened their doors amid streets littered with debris, while merchants attempt to arrange what remains of their goods on

GAZA AID: MSF raps Israel

Doctors Without Borders (MSF) says Israel Continues to Use Aid as a Weapon of War Against Gaza Strip…reports Asian Lite News Doctors Without Borders (MSF) said that despite the ceasefire agreement, Israel

Qatar Emir Meets Trump

HH the Amir welcomed HE the US President and his accompanying delegation, expressing his pleasure at meeting the President during his stopover in Qatar…reports Asian Lite News HH the Amir Sheikh Tamim

Abu Dhabi leads future of food innovation

Global Food Week 2025 cements Abu Dhabi’s leadership in food innovation, uniting 75 countries to showcase sustainable agriculture, cutting-edge technologies, and women-led enterprises driving future food security….reports Asian Lite News Global Food

UAE reshapes AI council

The newly reconstituted Council will be chaired by His Highness Sheikh Tahnoon bin Zayed Al Nahyan, with His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan serving as Vice-Chairman….reports Asian Lite
Go toTop

Don't Miss

IMF chief acquitted of charges favouring China

Georgieva, a Bulgarian economist who joined the IMF in 2019,

Pakistan bats for China at UN Human Rights Council

Hong Kong, Xinjiang and Tibet related issues are China’s internal