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Pakistan receives $554 mln second tranche of IMF loan

KARACHI: Pakistan has received 554 million dollars as a second tranche of its $6.7 billion bailout loan from the International Monetary Fund (IMF), an official said Tuesday.

The Washington-based lender approved the extended fund facility (EFF) in September to help the struggling nuclear-armed country achieve economic reforms, particularly in its troubled energy sector.

The IMF made an initial payment of $540 million, and in November fund officials said during a monitoring visit that Pakistan was “broadly on track” with reforms.

“Pakistan received the second tranche from IMF under the ongoing EFF on December 23,” a spokesman for the State Bank of Pakistan (central bank) said in a statement.

The release of the instalment will also bolster the bank's declining foreign exchange reserves.

Cash-strapped Pakistan, plagued by a bloody homegrown Taliban insurgency, is battling to get its shaky economy back on track and solve a chronic energy crisis that cripples industry.

Announcing the approval of the funds on Thursday, the IMF's deputy managing director and acting chair Nemat Shafik warned that Pakistan must continue its reforms for the economy to recover, in particular to improve tax collection..IPSNEWS

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    Lauren Booth,a Pro-Palestinian activist and sister-in-Law of former British Premier,Tony Blair,who recently embraced Islam,is being interviewed by Habib Hayat,Editor,IPSNEWS.Photo: WEST, USA, AND REGIONAL GOVERNMENTS SHOULD WORK SINCERELY FOR THE RESOLUTION OF PALESTINE ISSUE…LAUREN BOOTH Lauren Booth, who recently embrace Islam, pro- Palestinian activist and sister-in-law of the former British Premier Tony Blair has said that Palestinian peace will not kick-in unless the power players and the regional Middle Eastern governments work sincerely for it.” Its  crucial that the Palestinian issue  should be taken up seriously without any political outcome and  be solved on humanitarian grounds at the earliest as millions of Palestinians are suffering very hard in the Israeli concentration camps and dying because of shortage of food, medicines  and basic civic facilities. In an exclusive interview with IPSNEWS in Orlando before the fund-raising dinner arranged by MCA & MLFA jointly at a local hotel, she added: “I am very much concerned what is going on now in western countries and particularly in UK &USA under the cover of terrorism against the Muslim community. She said the recent turning down by UK  being  as an “ally” to USA  on Syria is inevitable that British people are fed up with the ongoing war situation now and  don’t want to be a  part of these  ongoing wars anymore and will not be a part of any such collision in future and will continue to  keep their pressure on the British Government to decline all such requests as these preemptive strikes  or wars has no purpose and are endangering the world peace besides creating hatred and fanning anti west  environment. She demanded that the “Gaza Strip” which is a life line for the Palestinians should immediately be opened without any further delay and UK and USA should play their role and use their pressure on Israel to keep it open so that the necessities of life including food, medicines and essentials should reach Palestinians without any hurdle and delay Later at the fundraising dinner, she narrated how she converted to Islam and since she embraced the religion how she feels. She narrated many incidents in her life which forced her towards this religion and termed that this is a religion of peace and followers of this religion are not terrorists but they are kind and helpful people as per her experience which she had prior converting to Islam in Palestine and elsewhere before and after her conversion.  At the fund raising dinner the  key note address was given by Imam Abdur Rehman Syiak and MLFA Executive Director Khalil Meek also address the gathering which was attended by a large number of Muslim community in Orlando………IPSNEWS (Lauren Booth,a pro-Palestinian activist and sister-in-Law of former British Premier,Tony Blair,who recently embraced Islam,is being interviewed by Habib Hayat,Editor,IPSNEWS.
  1. Photo: The ill-fated and assasinated John F.Kennedy,the most popular and liked President in USA, in one of his speeches said this :