Pakistan has requested an emergency loan disbursement from the International Monetary Fund to help fight the coronavirus under the fund’s Rapid Financing Instrument program.
IMF Managing Director Kristalina Georgieva did not identify the size of the loan in a statement on Friday.
However, under the program, Pakistan would be able to borrow up to its full quota – about $2.76 billion – over two years, or $1.43 billion over a single year to meet urgent balance-of-payments needs, Reuters said.
Pakistan already has an IMF $6 billion Extended Fund Facility loan program. Georgieva added that the Pakistani authorities “have reaffirmed their commitment to the reform policies included in the current arrangement.”