The executive board of the International Monetary Fund (IMF) on Friday approved $1.2 billion worth of loan tranches after Pakistan accepted a dozen new conditions and assured it would stick to the pre-war programme targets to stay on the course of stabilization.
With the fresh approval, Pakistan has so far received a $4.5 billion loan from the IMF against two separate debt packages totaling $8.4 billion. Pakistan has access to another $1 billion under the Extended Fund Facility and $200 million under the Resilience and Sustainability Facility.
The money would be disbursed early next week, which will take the central bank’s reserves to over $17 billion, said government officials.