Govt shares $3 billion financing plan with the IMF to unlock $1.1 billion tranche
ISLAMABAD: The federal government has shared a plan with the IMF about financing of another $3 billion.
The government has anticipated $3 billion disbursement of loans by the World Bank, Asian Infrastructure Investment Bank, and commercial banks.
The approval of the financing plan will lead to the signing of a staff-level agreement (SLA) between Pakistan government and the IMF.
The government has shared this plan with the IMF after Saudi Arabia and UAE have submitted their guarantees to the IMF in writing about their financing to Pakistan.
Under the Rise-2 program, Pakistan is likely to receive 450 million dollars.
Meanwhile, the Geneva Donors Conference funding was also shared with the IMF, according to Finance Division sources.
A couple of days ago, Prime Minister Shehbaz Sharif said that the government has completed all the requirements of the IMF and there was no excuse with the fund to delay the release of loans to Pakistan.
The IMF managing director, nonetheless, said that more financing was required. The Finance Ministry was seeking finalization of the staff-level agreement with the IMF as early as possible.
