IMF team gives go-ahead to sixth tranche of $550m

Sanaullah Khan Published February 5, 2015

DUBAI: The International Monetary Fund (IMF) mission recommended on Thursday the release of the sixth tranche of $550 million to Pakistan as discussions between delegations of both sides concluded in Dubai.

Outgoing Chief of the IMF Mission to Pakistan Jeffery Franks led the team which held talks with the Pakistani delegation which was led by Finance Minister Ishaq Dar and also included State Bank Governor Ashraf Wathra and other senior officials.

Read: Dar meets IMF team in Dubai for $550m tranche

Herald Finger, who will replace Jeffrey Franks, also joined the six-day technical talks between the two delegations.

Dar and Franks also held a joint press conference after the talks.

The recommendations reached on the completion of the sixth review of Pakistan’s $6.6bn three years Extended Fund Facility (EFF), approved by the IMF’s executive board in September 2013, will be forwarded to the the IMF Executive Board in the United States which would give final approval for the release of $550 million tranche.

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Hasan Hasni

Feb 05, 2015 02:17pm

People who extend their hand for money aren't consider respectful. Better learn to live within your means. When you beg than don't live like a king such as 40 to 50 caravan have to travel with you and spend 290 million on foreign visit. All of this have to be paid back by public. As majority of politicians don't pay tax and invest in overseas.

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mantis

Feb 05, 2015 02:23pm

Yet another succesful operation , well done Mr. Finance Minister.

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Nabeell

Feb 05, 2015 02:27pm

Congrats to every Pakistani!!! So finally the experience team has achieved another mile Stone. We talk about resolving Kashmir issue meanwhile we cant run a country without loans!

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Gramscian

Feb 05, 2015 03:01pm

@mantis Successful in getting another loan? Just read today Pakistan is giving Afghanistan 550 million dollars in aid. Does not make sense to give aid to another country when you yourself are begging for more loan.

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asghar

Feb 05, 2015 03:25pm

Alternative news: IMF blocks loan to pakistan. Secret Modi-Obama deal ?

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Taimur

Feb 05, 2015 03:27pm

We remember your promises during election campaign regarding foriegn loans

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janus

Feb 05, 2015 03:33pm

Please use it to free kashmiris and support their struggle for freedom , pakistanis can look after themselves.

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Shaneeza

Feb 05, 2015 04:00pm

General Raheel, can you please help ensure the money received is used sensibly.

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citizen

Feb 05, 2015 04:13pm

Another acheivement ! another feather in the cap of economic genius Dhar !

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Ahmed USA

Feb 05, 2015 04:29pm

Better not to borrow...

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Dilectus

Feb 05, 2015 04:48pm

Loans, Loans and more loans. And who would pay back these loans? Next govt? It surely would not be of Sharif's.

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waar

Feb 05, 2015 04:54pm

Now please stop blaming him for gloomy economy he has proven you wrong ...this loan proves that the government is doing every thing to attract foreign investment in the nation...a tight slap on the face of critics...forget USA or China..imf will invest here more

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Sunil

Feb 05, 2015 05:26pm

@Nabeell Kashmir is just to distract from real issues, Pakistan is facing.

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Imtiaz

Feb 05, 2015 05:29pm

Wait for it. In a few days, Dar will announce rise in foreign exchange reserves. He will portray it as a success of his economic policy!

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A. Mangal

Feb 05, 2015 05:39pm

@Sunil . You need not worry from distance!

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M. Siddique

Feb 05, 2015 06:09pm

When rulers pocket this money guess who will end up paying this loan? Yes, you guessed right, the people whose country is placed as a collateral.

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Sandeep

Feb 05, 2015 06:45pm

Few days back, I commented on this news that this loan is to cover operational deficit created this years. Nothing is going into any substantial Capex project. Just relax its add dead weight on balance sheet after five years.

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Sher

Feb 05, 2015 07:24pm

Dear National Assembly - you are the most superior authority of the Country, do you know the terms and conditions of this loan, what interest rate is, admn fee, commission, kick back and above all, which bank it will be transferred. We still have around more than US $5Billion in Bank of England, and no one knows about, this was the money, Mr. Bhutto loaned and was deposited in this bank with all the commission and kick-back, luckily it is still there but in Bhuttos name, even Zardari don't know about this wealth?

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Key Points

Feb 05, 2015 07:41pm

Wonderful. It says "sixth tranche of $550 million to Pakistan". I guess, it is a LOAN money coming to Pakistan, not a GIFT money? With so much money coming from all direction, it may prompt one to say Yes Sir, Yes Sir, even if you don't want to, thus compromising of all fronts. Jump, how high? Now there is lots of money for every body, hopefully some for needy

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ishrat salim

Feb 05, 2015 08:10pm

As per PML N pre election manifesto....they will break the begging bowl when they will come power...they did ! they broke the small begging bowl & replaced with a bigger bowl...what do you have to say PML N troll ?

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Sunil

Feb 05, 2015 08:22pm

@A. Mangal Making you aware.

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bystander

Feb 05, 2015 08:28pm

we can live eating grass but don't get loan plz

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Omar Khan

Feb 05, 2015 09:08pm

@Shaneeza "General Raheel, can you please help ensure the money received is used sensibly" All the funds should come to General Raheel who should be responsible for disbursements as he deems appropriate.

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Tariq, Lahore

Feb 05, 2015 09:10pm

Loan, loan, loan and borrow, borrow, borrow!!

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Zaheer Hassan

Feb 05, 2015 09:19pm

The Dishonet and Corrupt Government is continuing to bury the Nation under debt.

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Malik

Feb 05, 2015 09:54pm

More bungalows shall be built in posh colonies of Pakistan, more foreign exchange accounts be opened and of course more visits abroad along with many statements delivered and plans unfulfilled.

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Saleem

Feb 05, 2015 10:40pm

So much money comes but where does it go especially in the govt tenure of Zardari?

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Ahmer

Feb 05, 2015 10:54pm

PML(N) is good at borrowing. Unfortunately, the loans have to be returned too and with interest.

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Raba dar

Feb 05, 2015 11:54pm

Shameless people, no morels, only intersted in greed!

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xyz

Feb 06, 2015 12:05am

Greece syndrome.

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Nand

Feb 06, 2015 12:23am

@Saleem Defence !!!

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mirza

Feb 06, 2015 01:46am

This crony is best at borrowing. Nothing else.

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abdul

Feb 06, 2015 04:52am

That smile says it all " I am a conman"

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Syed Ahmed, Canada.

Feb 06, 2015 05:35am

Is it a matter to rejoice. Pakistani public will pay the loans not the Dakoits manning the government. Each Pakistan carries a burden of loan amounting to Rs. 101000 on their shoulders including new born.

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msadiq

Feb 06, 2015 06:23am

Well done Dar Sahib, a couple of years back nobody was even listening to us ! Hope this money goes into right projects and is used in good and transparent manner.

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