ISLAMABAD: The International Monetary Fund said on Thursday it had agreed to release a $497 million tranche for Pakistan after the latest review of a bailout package awarded in 2013, though the disbursement still requires IMF board approval. <br /> <br />Once the latest disbursement is made, the IMF will still have to release $1.1 billion of the total $6.7 billion loan agreed three years ago. <br /> <br />"After constructive discussions, the mission and the Pakistani authorities have reached staff-level agreement on the completion of the tenth review under the EFF (Extended Fund Facility) arrangement," the IMF said in a statement. <br /> <br />APP adds: Minister for Finance, Senator Ishaq Dar Thursday said that Pakistan has for the first time successfully completed 10th Review with International Monetary Fund (IMF). <br /> <br />"Pakistan was on the path of economic trajectory with all indicators showing economy moving in the right direction," he said while addressing a joint press conference with IMF Country Director, Herald Finger in Dubai. <br /> <br />Ishaq Dar said that the government has initiated structural economic reforms during its two and half year in office which were showing positive results.
