Twirp: Terrorist Wahabi Islamic Rep Pakistan 5

[Naresh]

.

IMF Completes Third Review Under Stand-By Arrangement for Pakistan, Approves US$ 1.2 Billion Disbursement



Press Release No. 09/480

December 23, 2009



The Executive Board of the International Monetary Fund (IMF) today completed the third review of Pakistan’s economic performance under a program supported by a Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of an amount equivalent to SDR 766.7 million (about US$1.2 billion), [color="#FF0000"]bringing total disbursements under the program to an amount equivalent to SDR 4.17 billion (about US$6.54 billion)[/color]



The Executive Board also approved Pakistan’s request for a waiver for the non-observance of the end-September performance criterion on the ceiling of the overall budget deficit, which was missed by a margin of 0.3 percent of GDP.



The 23-month SBA in an amount equivalent to SDR 5.17 billion (about US$8.11 billion) was approved on November 24, 2008 (see Press Release No. 08/303). On August 7, 2009, the SBA was augmented to an amount equivalent to SDR 7.24 billion ([color="#FF0000"]about US$11.35 billion[/color]) and extended to end 2010 (see Press Release No. 09/281).



Cheers