IMF approves $550m tranche for Pakistan

ISLAMABAD: Finance Minister Mohammad Ishaq Dar has said that Pakistan and the International Monetary Fund (IMF) successfully concluded on Thursday a three-day round of talks for $550 million tranche in Dubai.

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“Talks between Pakistan and the IMF team remained successful as the country’s all major economic targets and structural benchmarks are accomplished,” said Dar during a media briefing.

He said the IMF’s new tranche will be given to Pakistan by the end of March.

He said either the targets were achieved or achieved marginally with no lapse or waiver. “It is a welcoming and good omen for national economy.”

The minister said the foreign exchange reserves had exceeded US$ 15 billion mark in December 31, 2014, which meant that the country had re-qualified for the facilities offered by the International Bank for Reconstruction and Development (IBRD).

Dar said economic stability is progressing successfully in the country.

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IMF approves $550m tranche for Pakistan

by Azhar Khan