IMF Board To Meet January 11 On Pakistan's Loan Program


(MENAFN- The Peninsula) Bloomberg

The International Monetary Fund's executive board will meet on January 11 to consider final approval to disburse the next $700 million tranche from its current loan program, according to a spokeswoman.

Pakistan last month reached a staff-level agreement with the IMF for the payment, under its existing $3 billion bailout package, and the board typically approves such deals.

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The South Asian nation, which is grappling with Asia's fastest inflation, has about $1 billion in dollar-denominated debt due next year and is scheduled to hold elections scheduled in February.

Interim Finance Minister Shamshad Akhtar said after the staff-level deal in November that the country may seek an additional loan from the IMF, describing the economy as "still fragile.”

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