Pakistan secures $5.6bn funding boost from bilateral partners with IMF’s help

On Wednesday, Pakistan’s central bank received $1.2 billion from International Monetary Fund as the first tranche of a $3 billion bailout to stabilise the economy.

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington | File Photo: Reuters

Islamabad: Pakistan is set to draw in $5.6 billion in additional financing, Bloomberg News reported on Friday.

The new funding will include $3.7 billion of commitments from bilateral partners including Saudi Arabia and the United Arab Emirates, Nathan Porter, the IMF’s mission chief for Pakistan, Bloomberg News reported.

On Wednesday, Pakistan’s central bank received $1.2 billion from the International Monetary Fund as the first tranche of a $3 billion bailout to stabilise te economy.

Reporting by Urvi Dugar in Bengaluru; Editing by Himani Sarkar

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