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Saudi Press Agency

IMF says Pakistan requests emergency coronavirus financing

Saudi Press Agency

Friday 1441/8/3 - 2020/03/27

WASHINGTON, Mar 27, 2020, SPA -- Pakistan has requested an emergency loan disbursement from the International Monetary Fund to help fight the coronavirus under the fund's Rapid Financing Instrument program, IMF Managing Director Kristalina Georgieva said on Friday, Reuters reported.

She did not identify the size of the loan, but under the program, Pakistan would be able to borrow up to its full quota -- about $2.76 billion -- over two years, or $1.43 billion over a single year to meet urgent balance-of-payments needs.

Pakistan already has an IMF $6 billion Extended Fund Facility loan program and Georgieva said the Pakistani authorities "have reaffirmed their commitment to the reform policies included in the current arrangement."

--SPA
17:31 LOCAL TIME 14:31 GMT
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