64th Day Of Lockdown

Maharashtra54758169541792 Tamil Nadu177289342128 Delhi152577264303 Gujarat148297139915 Rajasthan76804341172 Madhya Pradesh70243689305 Uttar Pradesh67243824177 West Bengal40091486283 Andhra Pradesh3117206558 Bihar300680014 Karnataka240576245 Punjab2106191840 Telangana1991128457 Jammu and Kashmir175983324 Odisha15937337 Haryana130582416 Kerala9645426 Assam683634 Jharkhand4261534 Uttarakhand400644 Chhatisgarh360790 Chandigarh2781874 Tripura2321650 Himachal Pradesh223634 Goa67280 Puducherry49170 Manipur3940 Meghalaya20121 Nagaland900 Arunachal Pradesh210 Mizoram110 Sikkim100
Business Economy 05 Apr 2020 Covid19 outbreak: IM ...

Covid19 outbreak: IMF likely to delay releasing of third tranche to Pakistan

PTI
Published Apr 5, 2020, 12:59 pm IST
Updated Apr 5, 2020, 1:21 pm IST
Delay of the release of the third trance, will be likely due to the surfacing of new realities on the macroeconomic
The International Monetary Fund. (Photo- AFP)
 The International Monetary Fund. (Photo- AFP)

Islamabad: The International Monetary Fund (IMF) is likely to delay the release of its third tranche of the total USD 6 billion Extended Fund Facility (EFF) to cash-strapped Pakistan in the wake of the global coronavirus pandemic, according to a media report on Sunday.

Pakistan in December last had received the second tranche amounting USD 454 million.

 

The delay of the release of the third trance, amounting USD 450 million, will be likely due to the surfacing of new realities on the macroeconomic front following the coronavirus pandemic, The News International reported.

"Under the existing arrangement of USD 6 billion Extended Fund Facility (EEF), the approval of third tranche might be delayed for some time because all macroeconomic targets have shaken, arising out requirement to re-adjust macroeconomic targets," it noted.

The IMF in July last year had approved the USD 6 billion loan over a period of three years for Pakistan.

It was aimed at returning sustainable growth to the country's fragile economy and improve the standards of living.

Pakistan's finance ministry had approached the IMF in August 2018 for a bailout package when the Imran Khan government took over.

Quoting sources, the report said, there are two possibilities under consideration.

One was to complete the second review after the next budget for 2020-21 and second was to club second and third reviews of the EFF for providing third and fourth tranches together probably in July 2020.

The next IMF review meeting is expected by late April or early May 2020.

However, the report said the IMF has agreed to consider Pakistan's separate request of providing USD 1.4 billion under the Rapid Finance Instrument (RFI) for combating the coronavirus outbreak.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT