The IMF

Details regarding how much interest Pakistan will pay on the $7 billion loan from the International Monetary Fund (IMF) have come out.

According to the Ministry of Finance, it has taken a loan from the IMF at an interest rate of 5 percent, 50 basis points service charges are included on the loan, while the loan will be repayable over a period of 10 years.

Asian Development Bank has approved a loan of 200 million dollars for Pakistan

The Ministry of Finance said that the loan will be repaid to the International Financial Institution in 12 installments on a half-yearly basis. Loans have been taken from Chinese banks and other institutions at 7 to 8 percent interest.

It should be noted that Pakistan received the first installment of the $7 billion bailout package from the International Monetary Fund in September. This IMF loan program covers 37 months.