WASHINGTON (Pak Revenue News) – The International Monetary Fund IMF Executive Board will deliberate upon the $3 billion stand-by arrangement (SBA) reached with Pakistan today (Wednesday).
Although Pakistan wasn’t originally among the subjects listed on the IMF’s website, the external financing issue has been resolved after Islamabad received $2bn deposit from Saudi Arabia a day earlier. nike air max plus best adidas running shoes custom football jerseys human hair lace front wigs custom nfl jerseys nflstore football jerseys best sex toy jordan for sale best adidas running shoes nfl jersey shop couples sex toy soccer jerseys custom cheap nfl jerseys nike air max 90 womens
Pakistan receives $2bn deposit from Saudi Arabia
With Pakistan managing to meet one of the key conditions, the finance ministry says the world’s top lender has now accepted the plan that covers the $8.2bn gap.
What Pakistan needs to do under the IMF programme
Sources say Pakistan will get the necessary finances from different sources including Saudi Arabia ($2bn), the United Arab Emirate ($1bn) and $500 million each from the World Bank and the Asian Development Bank.
However, the largest share will come from China as Beijing will provide $3.5 billion, a country that is focusing on Pakistan for reviving the stalled Built and Road project – CPEC.
Earlier, Finance Minister Ishaq Dar had expressed the hope that Pakistan would receive over $1bn as first tranche within 24 hours of the IMF Executive Board’s approval.
The staff-level agreement for the stacovers first nine months – from July to March – of the current fiscal year 2023-24 and was hammered out on the very day [June 30] the previous deal under Extended Financing Facility (EFF) was to expire.