WASHINGTON: The International Monetary Fund (IMF) has agreed to release another $1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis.
With this, the total disbursements under the arrangement is about $3.2 billion, a statement said after the IMF Executive Board completed the fourth and fifth reviews of Pakistan's economic performance under a three-year programme supported by an Extended Fund Facility (EFF).
The IMF saved Pakistan from possible default by agreeing last September to lend it $6.8 billion over three years.
In completing the fourth and fifth reviews, the Executive Board also approved the authorities' request for waivers of non-observance of performance criteria on the basis of the corrective measures taken, including prior actions on net domestic assets and on government borrowing from the State Bank of Pakistan.
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