Pakistan Secures $700M IMF Loan Tranche for 2024 Economic Revitalization

Breaking News About the Pakistan IMF Loan $700M Tranche: The first assessment under Pakistan’s Stand-By Arrangement (SBA) was concluded by the Executive Board of the International Monetary Fund (IMF) on Thursday, allowing for the immediate transfer of around $700 million to Pakistan.

The Ministry of Finance made the announcement in a post on X. It added that with this latest payment, the total amount disbursed under the SBA would reach $1.9 billion.

Mohammed Sohail, CEO of Topline Securities, commented on the development and stated that the recent inflows from multilateral lenders and IMF funds will support the Pakistani Rupee, which has been relatively stable over the past several months. “This new tranche will also ease the pressure of repaying external debt and help in getting rollovers from few friendly countries,” he continued.

Back in November, IMF staff and the Pakistani government reached a staff-level agreement on the first review under Pakistan’s Stand-By Arrangement (SBA), subject to approval by the IMF’s Executive Board.

The agreement, according to the IMF at the time, supports the government’s commitment to moving forward with the planned fiscal consolidation, quickening the energy sector’s cost-cutting reforms, finishing the transition to a market-determined exchange rate, and pursuing state-owned enterprise and governance reforms to draw in investment and encourage job creation while bolstering social assistance.

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