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IMF Finishes Review of Pakistan's Program Paving Way to $102Mln Tranche

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16:46 GMT 04.08.2016(updated 16:51 GMT 04.08.2016) Get short URL

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IMF mission head Harald Finger said that International Monetary Fund has completed the finial review of Pakistan's economic program, allowing the country to receive $102 million in assistance upon approval by the fund's board.

This may 15, 2011 file photo shows the International Monetary Fund (IMF) headquarters building in Washington, DC

© AFP 2021 / YURI GRIPAS

IMF Fails to Foresee Magnitude of Risks in Three European States

WASHINGTON (Sputnik) – The International Monetary Fund (IMF) has completed the finial review of Pakistan's economic program, allowing the country to receive $102 million in assistance upon approval by the fund's board, IMF mission head Harald Finger said in a release on Thursday.

"The agreement is subject to approval by the IMF Management and the Executive Board," Finger stated. "Upon completion of this review, SDR 73 million (about US$102 million) will be made available to Pakistan."

The IMF said Pakistan's growth will likely reach 5 percent in 2016 and 2017 due to construction activity and investment upturn.

However, a complicated global economic environment and declining exports could undermine prospects of growth, according to the release.

In July, the IMF board completed a review of Pakistan’s economic performance and has approved disbursement of the next money tranche to the country amounting $501 million.

In 2013, the IMF approved about $6.64 billion aid package for Pakistan.

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: IMF, Egypt Finalizing Agreement on 3-Year Support Program Worth $21Bln

Tags:

tranche, International Monetary Fund, Pakistan

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