International Monetary Fund (IMF) has approved second tranche worth of $450 million for Pakistan under the $6 billion Extended Fund Facility in a meeting of its executive board in Washington.

The IMF in its board meeting said that Pakistan’s economic reform program is on track while decisive policy implementation by the Pakistani authorities is helping to preserve economic stability in the country. The authorities remain committed to expanding the social safety nets, reducing poverty, and narrowing the gender gap.

The federal government of Pakistan had received the first tranche from IMF post-approval of the under the extended loan programme of $6 billion.

It’s pertinent to mention here that Earlier in November, Adviser to Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh had said that IMF, after holding successful dialogues, showed agreement to release the second tranche amounting to $450 million loan to Pakistan.