IMF approves $500 million disbursement to Pakistan

FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo

WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday that it completed delayed reviews of Pakistan’s $6 billion loan program, clearing the way for an immediate disbursement of about $500 million to Islamabad for budget support.

The IMF said in a statement that the latest payment brings total disbursements under the Extended Fund Facility to $2 billion since the program was first approved in July 2019.

Reporting by David Lawder; Editing by Leslie Adler

source: reuters.com