IMF To Clear Pakistan’s Debt

The International Monetary Fund, generally referred as the IMF, has finally cleared Pakistan’s third and last payment for a $6.4 billion three-year program on Thursday.
The final payment was made after which the Prime Minister realized that now is the time when Pakistan is ready to move forth, without any assistance from the IMF funds.
Relieved at the progress in Pakistan’s economy, IMF officials concluded their meeting with the Pakistani officials, on their 12th review, held in Dubai. The final installment made by Pakistan will be releasing an approval, which is nothing but a formality from the IMF’s executive board.
According to a statement released by Herald Finger – an IMF representative, “Growth is expected to reach 5 per cent in FY 2016/17, supported by buoyant construction activity, strengthened private sector credit growth, and an investment upturn related to the China Pakistan Economic Corridor (CPEC),”
The meeting between the IMF and Pakistani officials in Dubai was directed by Ishaque Dar, who accepted the completion of the program, saying that it helped in stabilizing Pakistan’s economy, to a remarkable extent.

IMF To Clear Pakistan’s Debt

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