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Pakistan receives 3rd tranche of IMF loan
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15:58, August 12, 2009

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Pakistan has received 1.2 billion U.S. dollars from the International Monetary Fund (IMF), the third tranche of an emergency loan facility agreed last year, the central bank said Wednesday.

"We have received 1.2 billion U.S. dollars from the IMF," Syed Wasimuddin, spokesman of the State Bank of Pakistan, was quoted assaying by the private TV channel GEO.

Last week, the IMF increased its loan to Pakistan to 11.3 billion U.S. dollars under an economic program first agreed in Nov.2008, to avert a balance of payments crisis.

The IMF initially provided a 7.6 billion U.S. dollars emergency loan package. The first tranche of 3.1 billion U.S. dollars was disbursed in Nov. last year when the agreement was signed, and a second tranche of 848 million U.S. dollars was released in April.

Source: Xinhua

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