The country is to pay some $264 million to International Monetary Fund today (Friday) on account of loan instalments. The payment included two instalments of Stand-By Arrangement (SBA) and one payment of Extended Credit Facility (ECF). As per repayment scheduled, cumulatively 15th and 16th instalment of SBA worth SDR 71.06 million and SDR 95.837 million, respectively is due on June 28, 2013.
Overall, Pakistan has to pay SDR 167 million (equal to $251 million) to IMF on account of two repayments of SBA programme. While one instalment worth SDR 8.614 million (some $13 million) of ECF is also due today. Cumulatively, the country will pay SDR 175.5 million or about $264 million to IMF on account of three instalments of two different programmes. Bankers said the State Bank will pay these instalments from its reserves. The amount is alone principle amount of loan.
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