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Al Jazeera
Al Jazeera
Business
Abid Hussain

IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet

International Monetary Fund Pakistan Shehbaz Sharif Al Jazeera Kristalina Georgieva Economy
Pakistani prime minister Shehbaz Sharif held a meeting with IMF chief Kristalina Georgieva in Riyadh on Sunday. [Handout/Prime Minister's Office]

Islamabad, Pakistan – Cash-strapped Pakistan is poised to receive a $1.1bn loan tranche from the International Monetary Fund (IMF) after a key meeting of the international lender’s executive board on Monday, even as economists have warned that the country needs deep reforms to reduce its dependence on overseas financial assistance.

Late on Monday night, Pakistan’s Ministry of Finance and the IMF confirmed that the lender had approved the “immediate disbursement” of a $1.1bn tranche that completes a total loan of $3bn agreed to under a deal inked last year.

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