{
  "title": "Press Release: IMF Approves Nine-Month Extension of Stand-By Arrangement for Pakistan",
  "publication": "IMF News, December 27, 2010",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr10515",
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  "summary": "The Executive Board of the International Monetary Fund (IMF) approved—on a lapse-of-time basis1—a nine-month extension of Pakistan’s Stand-By Arrangement (SBA), to September 30, 2011.",
  "publishDate": "2010-12-27",
  "sections": [
    {
      "heading": "Executive Board decision",
      "content": "- The Executive Board of the International Monetary Fund (IMF) approved—on a lapse-of-time basis1—a nine-month extension of Pakistan’s Stand-By Arrangement (SBA), to September 30, 2011.\n- Footnote text preserved: \"1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.\""
    },
    {
      "heading": "Purpose and conditionality of the extension",
      "content": "- The extension will provide time for the Pakistani authorities to:\n  - complete the reform of the General Sales Tax,\n  - implement measures to correct the course of fiscal policy, and\n  - amend the legislative framework for the financial sector.\n- IMF staff is continuing its dialogue with the Pakistani authorities on the program’s fifth review."
    },
    {
      "heading": "Background and financing history of the SBA",
      "content": "- A 23-month SBA in an amount equivalent to SDR 5.1685 billion (about US$7.61 billion) was originally approved on November 24, 2008 (see Press Release No. 08/303).\n- On August 7, 2009 the SBA was augmented to SDR 7.2359 billion (about US$10.66 billion) and extended through December 30, 2010 (see Press Release No. 09/281).\n- Following the completion of the fourth review in May 2010, disbursements under the arrangement reached SDR 4.936 billion.\n\nInternational Monetary Fund press release No. 10/515, December 27, 2010.\n\n---\n\n\n References\n\n- Pakistan and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr10515"
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    "Published: December 27, 2010",
    "The Executive Board of the International Monetary Fund (IMF) approved—on a lapse-of-time basis1—a nine-month extension of Pakistan’s Stand-By Arrangement (SBA), to September 30, 2011.",
    "Footnote text preserved: \"1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.\"",
    "The extension will provide time for the Pakistani authorities to:",
    "IMF staff is continuing its dialogue with the Pakistani authorities on the program’s fifth review.",
    "A 23-month SBA in an amount equivalent to SDR 5.1685 billion (about US$7.61 billion) was originally approved on November 24, 2008 (see Press Release No. 08/303).",
    "On August 7, 2009 the SBA was augmented to SDR 7.2359 billion (about US$10.66 billion) and extended through December 30, 2010 (see Press Release No. 09/281).",
    "Following the completion of the fourth review in May 2010, disbursements under the arrangement reached SDR 4.936 billion.",
    "[Pakistan and the IMF](http://www.imf.org/external/country/PAK/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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