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

Published February 5, 2015
Federal Finance Minister.  — Reuters/file
Federal Finance Minister. — Reuters/file

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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