LONDON: The World Bank has stopped the payment of $300 million loan to Pakistan, for its economic development, on the objection raised by the International Monetary Fund (IMF) and announced to cancel this debt programme.
An official of the finance ministry told that the IMF had objected this loan programme approved for Pakistan because it thinks that the World Bank has no authority to issue such loans to any country.
According to a British news agency, this unexpected step taken by the World Bank would shock the plan B designed by advisor finance Shaukat Tareen to save Pakistan from economic disaster. Under this plan, the advisor finance had made the programme of collecting four billion dollars within 30 days.
However, the Pakistan official said that the government hoped that the IMF would not oppose this programme under the economic circumstances of Pakistan.
World Bank stops loan to Pakistan on IMF objection
LONDON: The World Bank has stopped the payment of $300 million loan to Pakistan, for its economic development, on the objection raised by the International Monetary Fund (IMF) and announced to cancel this debt programme.
An official of the finance ministry told that the IMF had objected this loan programme approved for Pakistan because it thinks that the World Bank has no authority to issue such loans to any country.
According to a British news agency, this unexpected step taken by the World Bank would shock the plan B designed by advisor finance Shaukat Tareen to save Pakistan from economic disaster. Under this plan, the advisor finance had made the programme of collecting four billion dollars within 30 days.
However, the Pakistan official said that the government hoped that the IMF would not oppose this programme under the economic circumstances of Pakistan.
