Pakistan has failed to secure assurance that the International Monetary Fund will be releasing the final installment of the country’s $11.3 billion loan package, according to local reports.
“There are no indications that the [Pakistani] delegation [to the IMF-World Bank annual spring meeting] was able to convince the IMF to release the next tranche,” a diplomatic source was quoted by Pakistani newspaper the Dawn.
The official added that IMF is not likely to hold negotiations on a new loan until the sixth tranche of the current package is released. The Pakistani government has earlier indicated that it is interested in seeking another loan from IMF.
>> New IMF Loan for Pakistan Possible, Officials Say
In May 2010, IMF suspended the release of the final tranche of Pakistan’s current loan package due to the country’s failure to meet performance benchmarks, The Economic Times says.
Read more development aid news.
