Updated on
Summary Pakistan paid fourth installment of the SBA worth $397.2 million to the IMF on Friday.
Pakistan entered in a 34-month $11.3 billion International Monetary Fund (IMF) Stand-By Arrangement (SBA) on November 24, 2008. The purpose of the loan programme was to stabilise the macroeconomy, bring structural reforms and restore investors’ confidence.Upon failure to comply with the lending agency’s requirement to improve economic fundamentals, the IMF suspended the programme in August 2010.Pakistan received around $7.48 billion under the programme with the last tranche of $1.13 billion received in May 2010.Since February 2012, Pakistan has already paid three installments against the loan and with the payment of this $397.2 million installment, the total scheduled payment will reach $1.29 billion.
