Third Tranche Of IMF Loan Recieved By Pakistan

PAKISTAN, KARACHI: Pakistan has received $1.2 billion from the International Monetary Fund (IMF), the third tranche of an emergency loan facility agreed last year, the central bank said.

“We have received $1.2 billion from the IMF,” Syed Wasimuddin, spokesman of the State Bank of Pakistan said.

Last week, the IMF increased its loan to Pakistan to $11.3 billion under an economic programme first agreed in November, 2008, to avert a balance of payments crisis.

The IMF initially provided a $7.6 billion emergency loan package. The first tranche of $3.1 billion was disbursed in November when the agreement was signed, and a second tranche of $848 million was released in April.