Pakistan to repay $8 bn to IMF
August 5th, 2011 - 5:34 pm ICT by IANSIslamabad, Aug 5 (IANS) Pakistan will have to repay to the International Monetary Fund (IMF) by the 2014-15 fiscal the $8 billion it has received from the global lending agency, a media report said.
“Pakistan will have to repay $8 arab (billion) in loans received under the Standby Arrangement (SBA) from the IMF within the next four years up to fiscal year 2014-15,” the Urdu daily Jang reported Friday,
The State Bank of Pakistan (SBP) will have to begin repaying instalments of the $1.4 billion loan in the financial year starting Feb 24, 2012, the report said.
According to the repayment schedule agreed with the IMF, the first instalment of $41.3 crore ($413 million) - or 258 million Special Drawing Rights (SDR) - will have to be paid to the IMF on Feb 24, 2012. The repayment will come from foreign currency reserves held by the SBP, daily Jang said.
- IMF approves another bailout tranche for Greece - Dec 06, 2011
- Pakistan forex reserves remain unchanged at $17.3 bn - Nov 20, 2011
- IMF approves 28 bn euro rescue funding for Greece - Mar 16, 2012
- Pakistan fails to convince IMF to release final tranche of $11.3bn loan - Apr 19, 2011
- Multilateral donors halt budgetary support to Pakistan, seek IMF's 'Letter of Comfort' - Feb 01, 2011
- IMF to start critical review of Pakistan economy to decide further action - Mar 01, 2011
- Pakistan fails to get IMF assurance on $11.3 bn loan release - Apr 19, 2011
- Economic crisis-hit Pakistan to seek second IMF loan to pay off first - Mar 27, 2011
- Pakistan owes $53 bn foreign debt - Dec 24, 2010
- IMF warns Pak Govt. to enforce tax reforms or lose much-needed funds - Feb 12, 2011
- Pakistan economy collapsing - Jan 31, 2011
- IMF warns Pakistan of budget deficit - Dec 31, 2010
- Mainland China to expand to SE Asia - May 16, 2012
- IMF to approve a 7.5-billion-dollar loan for Pak on Nov 22 - Nov 11, 2008
- Rs.3 bn for luxury suites for Pakistani MPs - Feb 09, 2011
Tags: bn, currency reserves, daily jang, fiscal year, foreign currency, instalment, instalments, international monetary fund, international monetary fund imf, islamabad, loans, repayment schedule, sba, special drawing rights, state bank, state bank of pakistan, state bank of pakistan sbp