Pakistan receives IMF’s ‘letter of intent’ for loan disbursement

Finance minister, SBP governor to sign it
<p>The meeting of the IMF’s executive is likely to be held on August 24 or August 24. Photo: AFP/File</p>

The meeting of the IMF’s executive is likely to be held on August 24 or August 24. Photo: AFP/File

Pakistan has received the letter of intent from the International Monetary Fund (IMF) for the release of the next tranche of the loan program.

This was confirmed by the officials of ministry of finance.

Finance Minister Miftah Ismail and SBP Governor Dr Murtaza will sign it.

The meeting of the IMF’s executive is likely to be held on August 24 or August 24. The executive board is likely to approve $1.2 billion for Pakistan.

Earlier this month, Pakistan fulfilled the pre-conditions for the disbursement of the combined 7th and 8th tranches of the IMF’s loan program after it increased the petroleum development levy.

“With the increase in PDL on July 31, the last prior action for the combined 7th and 8th review has been met,” said IMF Resident Representative in Pakistan Ester Perez Ruiz.

“The Board meeting is tentatively planned for late August once adequate financing assurances are confirmed,” she said.

Dr Abdul Shaikh Aug 12, 2022 01:46pm
But of course after meeting all the "conditions"!!!
Sarfrazsarwar Aug 12, 2022 04:45pm
Punch line is "once adequate financial reassurances are confirmed "
Qureshi Aug 14, 2022 09:22am
Once received, it will be announced in press conferences as if the country is getting international award. Friends, it is a loan to repay interest of earlier loans + some minuscule percentage for welfare schemes. How long can the country survive in such arrangement?
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