The International Monetary Fund is likely to meet in May to discuss the fifth payment of Pakistan’s USD14.3 billion loan, Reuters reports. The fund was originally set to meet on March 30 to discuss the approval and release of this payment, which is worth approximately USD1.2 billion, the news agency quotes an unnamed source. This meeting was delayed partly because IMF waited for feedback from the Asian Development Bank and World Bank on whether the two organizations were convinced Pakistan will address the power tariff issues set by the IMF.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
