11:31 - 12.01.2024

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January 12, Fineko/abc.az. The Board of Directors of the International Monetary Fund (IMF) has approved the allocation of a tranche of $700 million to Pakistan, ABC.AZ reports with reference to IMF’s website.

"The decision of the IMF Board of Directors provides for the immediate release of 528 million SDR (special drawing rights – the right to private borrowing: units of account within the IMF), which is equivalent to approximately $700 million," the IMF said in a statement.

In November 2023, IMF experts and reps of the Ministry of Finance of Pakistan at the working level agreed to provide the republic with a new tranche of $700 million.