Wednesday, June 29, 2016

IMF clears payment of USD 501 million to Pakistan

IMF clears payment of USD 501 million to Pakistan

Washington DC-based the International Monetary Fund (IMF) has cleared the payment of $501 million for Pakistan. For this the Executive Board of the IMF has completed the eleventh review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement. The Executive Board’s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about US$501 million), bringing total disbursements to SDR 4.32 billion (about US$6.01 billion).

The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It has been created in 1945 and at present Christine Lagarde is the head of the organization. 

So let's discuss some questions related to this post :
1. IMF has cleared a payment of UDD 501 million, bringing total disbursements to USD 6.01 billion to which country?
2. Who is the present head of IMF and where is the headquarter of IMF?

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