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IMF review mission commends Pakistan for economic progress -finance ministry

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Nov 2 - The International Monetary Fund's review mission met with Pakistani authorities in Islamabad on Thursday and commended the government on its progress toward economic recovery, the country's finance ministry said in a statement.

Under the $3 billion standby arrangement , Pakistan received $1.2 billion from the IMF as the first tranche in July. Circular debt is a form of public debt that builds up in the power sector due to subsidies and unpaid bills. On Oct. 13, Jameel Ahmad, governor of the State Bank of Pakistan released a statement saying that Pakistan's central bank had met an end-September deadline for a forward book target of $4.2 billion agreed with the IMF.

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