In order to give some budgetary support in the wake of the economic slowdown due to the coronavirus breakdown, the International Monetary Fund (IMF) to provide 1.4 billion US dollars to Pakistan next week.
According to the details, the government of Pakistan had last month, requested the International Monetary Fund (IMF) to consider giving it “a low-cost, fast-disbursing loan under the fund’s Rapid Financing Instrument (RFI) to deal with the adverse economic impact of COVID-19”.
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The IMF Resident Representative in Pakistan, Teresa Duban Sanchez, in her statement said that the IMF has been working with the authorities of Pakistani government since the request was placed and this $1.4 billion disbursement is scheduled to happen next week.
The Managing Director of the IMF Kristalina Georgieva last month said the team of the International Monetary Fund (IMF) is working expeditiously to respond to the request made by the government of Pakistan for disbursement of an emergency loan to help it fight novel coronavirus (COVID-19).
She said Pakistan requested financial assistance under the Fund’s Rapid Financing Instrument (RFI) to prevent the spread of the virus and provide financial support to affected families and businesses.