IMF provides Pakistan $1.39b to dampen economic impact of coronavirus
Statesman Report
ISLAMABAD: Pakistan has received $1.39 billion from the International Monetary Fund (IMF) under the Rapid Financing Instrument to cope with the financial crunch caused due to coronavirus, State Bank of Pakistan confirmed Wednesday.
"SBP has received $1.39bn under Rapid Financing Instrument by the IMF," said the central bank in a statement on Twitter.
Pakistan has recorded over 200 deaths and experts have voiced fear that the country of 215 million people could see a rapid and devastating increase due to its shortage of medical infrastructure and crowded cities.
With this in view, the IMF had approved the disbursement of the amount on April 17. The rapid financing instrument addresses emergencies and does not subject a country to a full-fledged reform programme that undergoes review.