IMF money to arrive in Pakistan by August-end: Report

Updated: Aug 13 2022 11:23AM

Islamabad, Aug 13 (PTI) The IMF's executive board will meet on August 29 to approve a bailout package for cash-strapped Pakistan within this month, including the pending disbursement of about USD 1.18 billion, a media report said on Saturday.

The development follows the completion of the USD 4 billion in bilateral financing from four friendly nations, including China and Saudi Arabia, and would pave the way for immediate disbursement, expected to be in Pakistan’s account before the end of working hours on August 31.

Finance Minister Miftah Ismail told Dawn that a letter of intent (LOI) was received early Friday from the lender for the revival of the programme under the staff level agreement (SLA) and memorandum of economic and fiscal policies (MEFP) signed last month.

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