Pakistan Inches Closer To Receive US$1.17bn From IMF.

In a major development for the release of US$1.17 billion tranche, the International Monetary Fund (IMF) has agreed to the letter of intent forwarded by Pakistan..

According to sources privy to the development, the IMF has signed the LOI sent from Pakistan and returned it to the country which will now sign it.

'Pakistan will sent back the signed LOI to the IMF today,' they said adding that the letter of intent was prepared by Pakistan a month back and since then IMF has been satisfied over its points and action plan.

On August 02, the International Monetary Fund (IMF) confirmed that Pakistan has achieved all the set targets for the revival of Extended Fund Facility (EFF) programme.

International Monetary Fund's (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has achieved all the financial targets set by the fund and the last action was accomplished on July 31...

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