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IMF Says Pakistan Requests Emergency Coronavirus Financing


People stand in designated areas marked on the ground to maintain social distance as they receive free food from volunteers of Chhipa Welfare Association during a government-imposed nationwide lockdown in Karachi on March 27.

Pakistan has requested an emergency loan disbursement from the International Monetary Fund to help fight the coronavirus under the fund's Rapid Financing Instrument program.

Speaking on March 27, IMF Managing Director Kristalina Georgieva did not identify the size of the loan, but under the program, Pakistan would be able to borrow up to its full quota -- about $2.76 billion -- over two years, or $1.43 billion over a single year to meet urgent balance-of-payments needs.

Pakistan already has an IMF $6 billion Extended Fund Facility loan program and Georgieva said the Pakistani authorities "have reaffirmed their commitment to the reform policies included in the current arrangement."

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