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IMF disburses $1 billion to Pakistan under loan program
December 17, 2014 / 9:37 PM / 3 years ago

IMF disburses $1 billion to Pakistan under loan program

WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday it had released a $1.05 billion loan increment to Pakistan as the South Asian country was on track in meeting the conditions of the IMF’s loan program.

Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo October 10, 2012. REUTERS/Kim Kyung-Hoon

The IMF saved Pakistan from possible default by agreeing last September to lend it $6.8 billion over three years. The cash is being doled out in increments and could stop if Pakistan fails to institute changes such as cracking down on tax evasion and privatizing loss-making state companies.

Reporting by Anna Yukhananov; Editing by Peter Galloway

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