IMF board green-lights $3 billion SBA for Pakistan

1689182396 IMF board green lights 3 billion SBA for Pakistan
International Monetary Fund. — AFP/File
 Worldwide Financial Fund. — AFP/File

The Worldwide Financial Fund (IMF) Govt Board on Wednesday accepted a staff-level settlement reached with Pakistan on a short-term stand-by deal.

“As we speak, the Govt Board of the Worldwide Financial Fund (IMF) accepted a 9-month Stand-By Association (SBA) for Pakistan for an quantity of SDR2,250 million (about $3 billion, or 111 p.c of quota) to assist the authorities’ financial stabilization program,” the worldwide lender mentioned in an announcement.

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