Pakistan, IMF weighing $2.5 bln standby arrangement of six to nine months: Report

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Pakistan and the International Monetary Fund are discussing a $2.5 billion “standby arrangement” of six to nine months, the Dawn newspaper reported on Wednesday, quoting an unnamed official.

The fund would cover the remaining amount of a $6.5 billion bailout agreement signed in 2019, of which $4 billion have been released so far, and which expires on June 30.

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Pakistan’s parliament on Sunday had approved the government’s 2023-24 budget which was revised to meet International Monetary Fund conditions in a last ditch effort to secure the release of more bailout funds.

Read more: Pakistan PM meets IMF’s Georgieva, hopes funds to be released ‘as soon as possible’

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