The International Monetary Fund (IMF) said Wednesday that it has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy. In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement, in order "to support the authorities' economic stabilisation program." This follows a staff-level agreement between the fund and Pakistan announced last month, and the latest approval allows an immediate disbursement of around $1.2 billion. The approval of Stand-by Agreement of $3 billion by the IMF's Executive Board a little while ago is a major step forward in the government's eff
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