IMF Revises Pakistan's Foreign Loan Requirement To $25 Billion: Report
NDTV
The International Monetary Fund's delegation wrapped two-week-long talks with Pakistani officials on November 15 and announced that a staff-level agreement has been reached to enable it to release USD 700 million in the second tranche of an already agreed USD 3 billion loan.
The IMF has revised down Pakistan's foreign loan requirements to USD 25 billion for the ongoing fiscal year -- reducing it by USD 3.4 billion in a big relief for its cash-starved economy, according to a media report on Saturday.
The Washington-based global lender also lowered the economic growth projection to just 2 per cent, turning down the government's external as well as macroeconomic forecasts, The Express Tribune newspaper reported.
The International Monetary Fund's delegation wrapped two-week-long talks with Pakistani officials on November 15 and announced that a staff-level agreement has been reached to enable it to release USD 700 million in the second tranche of an already agreed USD 3 billion loan.
