March 29, 2024 20:11 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi to kickstart BJP's Lok Sabha poll campaign from Meerut | Kangana Ranaut in Mandi: 'Don't think I am a heroine, consider me as your sister and daughter' | Mayawati, Akhilesh Yadav demand high-level probe into Mukhtar Ansari's death | PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63
IMF now defers Pakistan's 6th review to release $1 billion under fund facility Pakistan IMF
Image: File image by Pouyana via Wikimedia Creative Commons

IMF now defers Pakistan's 6th review to release $1 billion under fund facility

India Blooms News Service | @indiablooms | 11 Jan 2022, 08:21 pm

Islamabad: After receiving a request from the Pakistani government, the Executive Board of the International Monetary Fund (IMF) has postponed the consideration of completion of the Sixth Review and release of $1 billion tranche under the Extended Fund Facility (EFF) which was set for January 12.

An interesting phase is going to begin this week where the parliament will have to initiate a debate on these two bills.

It is yet to be seen how both Houses of Parliament grant their stamped approval on the controversial State Bank of Pakistan Amendment Bill 2021, reports The News International.

Top official sources confirmed to The News here on Sunday that the IMF’s Executive Board had removed from its calendar 2022 consideration of Pakistan’s case for completion of the 6th review scheduled for January 12 and release of $1 billion under the EFF programme.

Now the IMF’s Executive Board will consider only Nepal's request under the Extended Credit Facility on January 12, 2022, the newspaper reported.

When contacted about the exact date for consideration of Pakistan’s request by the Fund’s Executive Board, the IMF’s Resident Chief in Pakistan, Esther Perez Ruiz, replied: "The Board meeting for consideration and eventual approval of the 6th Review under the EFF is being postponed at the request of the authorities. The new date is yet to be determined."

Now Pakistani authorities say that the IMF’s Executive Board was expected to meet by end January 2022 or early February 2022 for considering Pakistan’s request for completion of the 6th review and release of $1 billion tranche under the EFF program.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.