On Friday, the International Monetary Fund (IMF) approved the immediate disbursement of around $ 1 billion in Pakistan as part of the current installation of the extended fund, said the shehbaz sharif office
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On Friday, the International Monetary Fund (IMF) approved the immediate release of approximately $ 1 billion in Pakistan as part of the current funds in progress (EFF), aimed at stabilizing the country’s economy.
“Prime Minister Shehbaz Sharif expressed his satisfaction with the approval of an $ 1 billion payment for Pakistan by the IMF and the failure of the autonomous tactics of India against her”, ” Pti cited a statement published by his saying office.
India previously raised strong objections to the decision of the International Monetary Fund (IMF) to extend new financial assistance in Pakistan, invoking concerns about the poor history of the country with previous programs and the potential use of funds for cross -border terrorism sponsored by the State.
At the meeting of the IMF Executive Board held on Friday, which approved a disbursement of $ 1 billion under the installation of prolonged funds (EFF) and considered an additional $ 1.3 billion as part of the resilience and durability installation (RSF), India recorded its protest and has refrained from voting.
New Delhi opposed the $ 2.3 billion offered by new loans, warning that such financial support could be diverted to finance terrorism -related activities.
In a statement, the Indian Ministry of Finance said: “The continuous sponsorship reward for cross -border terrorism sends a dangerous message to the global community, exposes funding agencies and donors to the risk of reputation and undergo the global values.”
India has also criticized the repeated requests from Pakistan to assistance to the IMF, noting the country’s failure to respect the conditions of the previous program and implement prolonged reforms.
India’s opposition to IMF arrives at a time when military conflicts between India and Pakistan have intensified.
The declaration published by the PM office in Islamabad said that the “economic situation in Pakistan has improved and that the country is moving towards development. India plots a conspiracy to divert attention from the development of our country by unilateral aggression. ”
“Indian attempts to sabotage the IMF program have failed,” said the press release, adding that the IMF program would help stabilize the economy and put it on the long -term recovery track.
“We are working on priority areas such as tax reform, improving the performance of the energy sector and the development of the private sector. Improved economic indicators in the past 14 months reflect the government’s positive policies, “he said.
The approval of the IMF board of directors has led to an immediate disbursement of $ 1 billion, bringing total disbursements within the framework of the loan program at around $ 2 billion. After having succeeded in seven -semi -annual journals, Pakistan is entitled to seven equal payments of around 1 billion dollars as part of the loan program.
Pakistan and the IMF had reached a assistance package of $ 7 billion over three years last July with the new program established to allow the country to cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth.
IMF and Pakistan had concluded a staff level on March 25 during the first biannual review of the $ 79 -month -on -law loan program, by granting a series of reforms, including the introduction of a carbon levy, timely revisions of electric prices, an increase in water pricing and the liberalization of the automotive sector.
With agency entries
