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Pakistan receives $6.3b from IMF: NA told

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Published: February 6, 2017 09:33 pm

ISLAMABAD:  Pakistan has received $ 6.3 billion under Extended Fund Facility (EFF) from the International Monetary Fund in twelve tranches.

It was told by Minister Finance Ishaq Dar in written reply to a starred question raised by MQM female lawmaker Saman Sultana Jaffri during the 7th sitting of 39th session of National Assembly.

To her question about taking more than six billion dollars loans from the International Monetary Fund (IMF), the Minister for Finance said that Pakistan has received $ 6.3 billion under EFF with the IMF.

He said that disbursements under the EFF were made in twelve tranches. Each tranche is repayable to the Fund after 4.5 years from date of disbursement as first tranche was received in September 2013, while the last tranche was disbursed by the Fund in September 2016. First repayment will start in 2018 while repayment schedule extends till FY 2025-26, he added.

Ishaq Dar said the government has formulated and implemented a homegrown economic reform program, which was also supported by the IMF.

Major reforms, he said, were undertaken during the program in various sectors including Fiscal, Financial, Public Sector Enterprises, Power, and Business Climate improvement.

Minister for Finance said the country has stable economic outlook in the wake of reforms undertaken during the past more than three years, which has built buffers against possible future shock.

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