World Bank restores budgetary support to Pakistan, says Hammad Azhar

The World Bank has restored budgetary support to Pakistan on account of strengthening of economic stability, said Minister of Economic Affairs Hammad Azhar on Friday.

In a tweet, the minister said: "Both ADB and WB had suspended budgetary support to Pakistan during 2017 due to rising macroeconomic imbalances that had arisen in the economy at that time."

Earlier this month, Pakistan and the International Monetary Fund reached a staff-level agreement on the first review under the Extended Fund Facility on Friday, according to which Islamabad will receive another installment of US$450 million. 

The international money lender issued a press release according to which the end-September performance criteria were met with "comfortable margins and that progress continues towards meeting all structural benchmarks".