The IMF is likely to release two installments of 2 2 billion for Pakistan Pi News

ISLAMABAD: The International Monetary Fund (IMF) is likely to release two tranches of 2 2 billion for Pakistan.

According to details, a staff level agreement is expected to be reached between the International Monetary Fund and Pakistan this week. Finance Minister Muftah Ismail said in a message on social networking site Twitter that a copy of the Memorandum of Economic and Fiscal Policy Frame Program has been received from the IMF for the Seventh and Eighth Economic Review.

Finance Minister Muftah Ismail has said that the country is out of danger of default, the seventh and eighth installments will be received simultaneously from the IMF. The IMF has combined the two tranches, the seventh tranche at 90 900 million and the eighth tranche at about ً 1 billion.