IMF to resume stalled $6 billion Pakistan funding ...United Arab Emirates

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IMF to resume stalled $6 billion Pakistan funding
source : Gulf News ( United Arab Emirates ) () 13
Dubai: The international Monetary Fund (IMF) staff and the Pakistani authorities have reached an agreement to resume funding under  the IMF Extended Fund Facility (EFF). An IMF team led by Ernesto Ramirez Rigo, concluded virtual discussions with the Pakistani authorities and reached a staff-level agreement on the resumption of the $6 billion EFF. This agreement is subject to the approval of the IMF’s Executive Board. Pending approval of the Executive Board, the IMF agreed to release around $500 million. “The COVID-19 shock temporarily disrupted Pakistan’s progress under the EFF-supported program. However, the authorities’ policies and allowing higher than expected COVID-related social spend

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