Updated on
Summary
The International Monetary Fund approved to release the fifth tranche of $1.13 billion in aid for Pakistan and waive some of its requirements. The Fund said Pakistan's economic conditions have been improved despite the adverse security developments and a rapidly changing political environment. Pakistan had asked for a waiver on some of its targets, including its quarterly budget deficit. The IMF approved the requests, and also agreed to combine remaining three disbursements into two, while keeping the total loan package at about $10.66 billion including the latest disbursement, Pakistan has drawn about $7.27 billion. The board said it would grant waivers for overruns on the budget deficit and on net government borrowing limits from the State Bank of Pakistan.
