IMF to give $501.4m under EFF

ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) Friday completed the sixth review of Pakistan’s economic performance under a 36-month programme supported by an Extended Fund Facility (EFF) arrangement.

The Board’s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about $501.4 million), bringing total disbursements under the arrangement to SDR 2.52 billion (about $3.5 billion).

On September 4, 2013, the Executive Board approved the three-year extended arrangement under the EFF in the amount of SDR 4.393 billion (about $6.12 billion, or 425 percent of Pakistan’s quota at the IMF).—PR