Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: IMF Approves $7 Billion Loan Facility for Pakistan
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
IMF Pakistan Loan
PhotoNews Pakistan > Business > IMF Approves $7 Billion Loan Facility for Pakistan
BusinessTop News

IMF Approves $7 Billion Loan Facility for Pakistan

Web Desk
By Web Desk Published September 25, 2024 2 Min Read
Share
IMF approves $7 billion EFF programme for Pakistan. Photo Credits: News Central TV
SHARE

The International Monetary Fund’s (IMF) Executive Board approved a $7 billion Extended Fund Facility (EFF) for Pakistan this Wednesday. The first $1.1 billion tranche will be released by September 30, 2024.

Ministry of Finance sources report an interest rate under 5% for the loan. The IMF plans a second disbursement within this fiscal year.

Islamabad Watch |

The International Monetary Fund (IMF) has approved a 37-month, $7 billion Extended Fund Facility (EFF) for Pakistan during its executive board meeting on September 25.

PM Shehbaz Sharif expressed gratitude to Saudi Arabia, the UAE, and China for confirming… pic.twitter.com/RP3BHtyF4I

— South Asia Times (@SATimes_TV) September 25, 2024

Pakistan and the IMF agreed on this 37-month loan program in July. Prime Minister Shehbaz Sharif views it as the nation’s final IMF engagement.

Read: Prime Minister Shehbaz Sharif Engages in Critical IMF and UN Meetings

Approval followed confirmation of $12 billion in bilateral loans from Saudi Arabia, China, and the UAE, plus $2 billion in external financing.

Insiders reveal that Pakistan must repay $5 billion in cash deposits to Saudi Arabia, with an additional $4 billion from China and $3 billion from the UAE.

To gain IMF approval, Pakistan needed to secure $2 billion from bilateral and commercial lenders.

The IMF later pinpointed an external financing gap of $2 to $2.5 billion. Saudi Arabia confirmed its support with an oil facility and a $400 million ITFC facility from IsDB. Other contributions came from Standard Chartered Bank and Middle Eastern commercial banks, according to The News.

Islamabad has long relied on IMF programs, often nearing sovereign default. It has turned to countries like the UAE and Saudi Arabia to meet IMF-prescribed external financing goals.

TAGGED:FeaturedIMF
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Zlatan Ibrahimovic defends Messi after nter Miami’s 4-0 Club World Cup Loss

Zlatan Ibrahimovic Defends Messi After Inter Miami’s 4-0 Club World Cup Loss

PSG Inter Miami Club World Cup

PSG Crushes Inter Miami 4-0 in Club World Cup, Advances to Quarter-Finals

Japan's Princess Kako Econony flight

Japan’s Princess Kako’s Humble Economy Flight to Brazil Wins Hearts

Beyoncé Cowboy Carter Tour

Beyoncé Narrowly Escapes Fall After “Flying Car” Malfunctions

Harry Kane Bayern Munich

Harry Kane’s Brace Leads Bayern Munich to Club World Cup Quarter-Finals

Post Archives

More Popular from Photonews

Ronaldo Al Nassr extension
Sports

“Al-Nassr Forver”, Cristiano Ronaldo Extends Al Nassr Contract

3 Min Read
Trump Iran sanctions 2025
Top NewsWorld

Trump Announces Israel-Iran Ceasefire Amid Ongoing Tensions

4 Min Read
Iran state funeral 2025
Top NewsWorld

Iran Holds State Funeral for 60 Killed in Israel Conflict

3 Min Read
Entertainment

Tom Brady and Sydney Sweeney Spark Romance Rumors at Bezos’ Venice Wedding

On June 26, 2025, Tom Brady and Sydney Sweeney set social media ablaze after dancing together…

June 29, 2025
Entertainment

Sydney Sweeney’s Baskin-Robbins Ice Cream Collab Sweetens Summer 2025

Sydney Sweeney, the star of Euphoria, unveiled a delightful collaboration with Baskin-Robbins on June 27, 2025,…

June 27, 2025
Tech

Humanoid Robots Play Football in Beijing: A Glimpse into AI Innovation

In a quirky yet groundbreaking display, humanoid robots took to a football pitch in Beijing on…

June 29, 2025
Tech

iPhone 17 Pro Max Set to Launch in September 2025 with Major Upgrades

Apple is poised to unveil the iPhone 17 Pro Max, its most advanced smartphone yet, at…

June 27, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?