ISLAMABAD: Pakistan can acquire a loan package worth $6.6 billion from the International Monetary Fund (IMF) after the organization gave its consent, finance ministry officials said.
Following weeks of talks between an IMF delegation and Pakistani government officials held in Islamabad in July, the fund had settled on an initial package of $5.3 billion, while Pakistan had requested $7.2 billion.
According to a top finance ministry official, after further consultations which were held in the United States, the IMF has raised its offer and now agreed to pay $6.6 billion to Pakistan.
The official announcement will come very soon, the official said on condition of anonymity.
The IMF’s executive board will formally approve the package for Pakistan sometime in early September, as long as Pakistan has made some fiscal reforms, the IMF said on its website.
