Pakistan repays $386m to IMF

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Pakistan repays $386m to IMF

ISLAMABAD - Pakistan has repaid an installment of $386 million debt to IMF on Sunday.

Media reports said that it would cause more decrease in the foreign exchange reserves of the country and after the payment of this installment, Pakistan has paid $1,23 billion to the IMF.

Pakistan had taken $7.8 debt from IMF in November, 2008 under standby programme that is being returned and the country would have to pay $140 million up to the June 28, 2013, reports added.

It is very much possible that the foreign exchange reserves may decrease from $11.430 billion to $11.3 billion after the payment of this installment.

Courtesy: nation

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