IMF approves $ 1.386 billion for Pakistan

The IMF board has approved 1015.5 million SDRs.  SDR (Special Dieting Rights) is a special IMF currency valued at five of the world's largest currencies including the US dollar, British pound, euro, Chinese rupee and Japanese yen.

 

The 1015.5 million SDRs make around $ 1.386 billion and are half of Pakistan's quota.

 Speaking on the occasion, Jafri Okamoto, deputy managing director of the IMF's executive board, said, "The outbreak of the Cod-19 epidemic is damaging the Pakistani economy."  Measures to curb domestic expansion and the global recession are having a profound impact on the economy and increasing external debt pressures.  That is why the balance of payment crosses has been born in the country. '

 "In this context, the IMF has given this financing so that authorities can find a place to spend on the health sector, invest in the economy and receive support from other donors.