IMF to Free Funding for Pakistan, Rwanda

Pakistan will take advantage of $11.7 billion in financing from the International Monetary Fund, Shaukat Tareen, adviser to Pakistan's prime minister on finance and revenues, has revealed. The package includes a current $7.6 billion standby arrangement as well as $3.1 billion to compensate for delays in disbursement of pledges from the Friends of Pakistan, and an additional $1 billion from an increase in the country's IMF loan quota,

cites Tareen as saying. The fund is also disbursing $1.8 million to Rwanda,

reports. The sum will be drawn from IMF's $12 million loan program for the landlocked African nation.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.