Pakistan repays $386 million to IMF

0
39

Pakistan has repaid an installment of USD 386 million in debt to International Monetary Fund (IMF) on Sunday.

Media reports said that the payment would decrease the foreign exchange reserves of the country even further and after payment of this installment, Pakistan had paid one USD billion and 230 million to the IMF.

In the past, Pakistan had taken USD 7 billion and 800 million loan from the IMF in November, 2008 under standby programme that was being returned now and the country would have to pay 140 million up to the June 28, 2013, the reports added.

It was very much possible that the foreign exchange reserves may decrease from 11 billion and 430 million to 11 billion and 40 million after the payment of this installment.