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Pakistan set to obtain $2.77 billion from IMF

by Pakistan Latest News Update

ISLAMABAD – Pakistan is because of obtain $2.77 billion from the International Monetary Fund this month, the nation’s finance minister mentioned on Thursday.

Addressing a press convention to announce the event, Shaukat Tarin detailed that the funds will straight be despatched to the State Financial institution of Pakistan on August 23.

The worldwide cash lender has launched a complete of $650 billion for numerous nations. The quantity — which will likely be an “unconditional” allocation from the IMF — goals to spice up world liquidity amid the coronavirus pandemic.

On August 2, the Board of Governors of the IMF had authorised a basic allocation of Particular Drawing Rights (SDRs) equal to US$650 billion (about SDR 456 billion) to spice up world liquidity.

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