Pakistan finance minister: IMF board approves release of over $1.1 billion bailout funds

08/29/2022

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2022.08.29 19:34

Pakistan finance minister: IMF board approves release of over $1.1 billion bailout funds
FILE PHOTO: Pakistan’s finance minister Miftah Ismail speaks during an interview in Islamabad, Pakistan December 28, 2017. REUTERS/Faisal Mahmood/File Photo

ISLAMABAD (Reuters) – The International Monetary Fund (IMF) board on Monday approved the seventh and eighth reviews of Pakistan’s bailout programme, the country’s finance minister Miftah Ismail said, which will release $1.17 billion in funds to the cash-strapped country.

“The IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion,” Ismail said on Twitter (NYSE:TWTR).

The IMF’s resident representative in Islamabad did not immediately respond to a request for comment.

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08/29/2022

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