IMF okays release of final $1.1bn SBA tranche
The Executive Board of the International Monetary Fund (IMF) on Monday approved the immediate disbursement of approximately $1.1 billion to Pakistan. The board met in Washington on Monday and completed the second review under the Stand-By Arrangement (SBA) for Pakistan, allowing for bringing total disbursements under the arrangement to about $3 billion. All board members favoured releasing the last installment except India, which abstained. “The completion of the second and final review reflects the authorities’ stronger policy efforts under the SBA, which have supported the stabilisation of the economy and the return of modest growth,” the IMF said in a statement. “To move Pakistan from stabilization to a strong and sustainable recovery the authorities need to continue their policy and reform efforts, including strict adherence to fiscal targets,” the statement added.