Pakistan, to put $14 million in IMF bag
- September 25, 2013, 7:42 pm
- Business News
- 129 Views
ISLAMABAD, Sep 25 (Online): Government of Pakistan will pay more 14 million dollars to International Monitory Fund (IMF) under Loan Re-payment Program on Friday.
Details said, it would be 18th continuous installment to IMF in regard of loan repayment, while even after the payment of installment; threat regarding pressure on rupee will remain as it is.
Sources from Ministry of Finance said, till now 3.50 billion dollars have been repaid to IMF in 17 installments and this 18th installment will be paid as Stand By program of loan return. Earlier in the month of August 56 million dollars were return to IMF.
Pakistan had obtained 7.80 billion dollars loan from IMF under Stand By program in November 2008, while on September 4, 2013 present government took more 6.64 billion dollars from IMF under the facility of external debt.
1st installment of this external debt has been received which have given support to devaluing rupee and foreign exchange.
