Islamabad. The International Monetary Fund (IMF) on Friday approved a loan tranche of $1.2 billion for Pakistan. According to news agency PTI, this amount will be provided under two separate ongoing financial programs.
The IMF’s executive board decided to provide Pakistan with $1 billion under the Extended Fund Facility (EFF) and approximately $210 million under the Resilience and Sustainability Facility (RSF).
Earlier in September 2024, the IMF had decided to provide Pakistan with $7 billion over a period of 37 months, which is under the EFF program. In addition, an agreement was also reached to provide an additional $1.4 billion under the RSF.
As the latest link in the same plan, the IMF has approved this new tranche, which is expected to provide some relief to Pakistan, which is struggling with an economic crisis.