Pakistan is among the major beneficiaries of an International Monetary Fund (IMF) and World Bank initiative to help emerging economies deal with the negative impact of the Covid-19 crisis.
Data released by the two financial institutions show that Pakistan is receiving $1,386 million from the IMF’s Rapid Credit Facility (RCF). Pakistan’s request for assistance from the RCF was approved on April 16, 2020 and Islamabad started receiving support from this facility soon after the approval.
Pakistan is also getting support from a World Bank programme known as Debt Service Suspension Initiative (DSSI). Between May and December 2020, Pakistan saved $3645.4m with support from this programme, which amounts to 1.3 per cent of its GDP.