IMF agrees to give $6bn bailout package for three years, says Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh announced on Sunday that Pakistan and the International Monetary Fund (IMF) has finalised an agreement on a $6 billion bailout package.

Speaking on the PTV News, the financial adviser said that as per the agreement Pakistan would receive the package for a period of three years.

Meanwhile, the IMF has also announced that it has reached a ‘staff level’ agreement, but the agreement is subject to IMF management approval and to approval by the Executive Board.

“The IMF team has reached a staff-level agreement on economic policies that could be supported by a 39-month Extended Fund Arrangement (EFF) for about $6 billion,” it said.

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