IMF Disburses 2nd Tranche of $1.023 Bn to Pak

The International Monetary Fund (IMF) has disbursed a second tranche of special drawing rights worth 760 million ($1.023 billion) under its Extended Fund Facility (EFF) programme for Pakistan, the nation's central bank said on Wednesday.

- Pawan Sharma and Bhavey Nagpal

KARACHI/ISLAMABAD: The International Monetary Fund (IMF) has disbursed a second tranche of special drawing rights worth 760 million ($1.023 billion) under its Extended Fund Facility (EFF) programme for Pakistan, the nation's central bank said on Wednesday.

With the transfer, the total disbursements stand at approximately $2.1 billion under the EFF of $7 billion, which was signed between Pakistan and the global lender last year.

The State Bank of Pakistan said the second tranche amount would be reflected in its foreign exchange reserves for the week ending May 16. The disbursement of the second tranche comes on a day the IMF is holding virtual discussions on Pakistan's upcoming budget as the visit of its mission to Islamabad was delayed due to security concerns in the region.

AGENCIES CHANDIGARH/KARNAL: Ashoka University professor Ali Khan Mahmudabad on Wednesday rejected allegations of making disparaging remarks against women army officers and said he submitted a detailed response through his lawyers to the Haryana State Commission for Women even as the body said the academic was making excuses and said it was exploring legal action.