ISLAMABAD (Kashmir English): The Executive Board of the International Monetary Fund (IMF) on Friday approved $2.3 billion under two facilities, slapping India’s efforts to block the IMF’s bailout programme for Pakistan.
As per details, the global lender approved the immediate disbursement of $1 billion second loan tranche of the Extended Fund Facility and also sanctioned a new $1.3 billion Resilience and Sustainability Facility (RSF), which would be disbursed over the next 28 months.
The decision was taken in the board’s meeting in Washington, which also discussed Pakistan’s request for the modification of performance criteria, and request for an arrangement under the Resilience and Sustainability Facility (RSF).
With the approval of the $1 billion second tranche due to Pakistan’s better fiscal performance, the total disbursements under the EFF would reach to $2.1 billion.
