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IMF yet to decide on bailout for Pakistan

The International Monetary Fund has not yet taken a decision on the release of the next tranche of $ 100 million of the $ 1.5 billion bailout package to Pakistan which is due for release in July.

According to official sources, the IMF's executive board will take a final decision but the date of its meeting has yet not been fixed. Pakistan got the last installment of $ 51 million on May 24. Pakistan to date has drawn $ 153 million.

At the time of the release of the last installment, the IMF had complained about Pakistan's ''difficult'' macro-economic situation and said that resolute action was needed to broaden the tax base and further strengthen tax enforcement.

The authorities also need to accelerate structural reforms to build a solid foundation for high economic growth in the medium-term.

UNI

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