IMF approves $3 billion bailout for cash-starved Pakistan ...Egypt

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Islamabad Reuters — The International Monetary Fund’s board approved a three billion dollar bailout program for Pakistan which will immediately disburse about $1.2 billion to help stabilize the South Asian ailing economy, the lender said on Wednesday. Pakistan and the fund reached a staff level agreement last month, securing a short-term pact, which got more than expected funding for the country of 230 million people. The country has faced an acute balance of payments crisis with only enough central bank reserves to cover barely a month of controlled imports. The board’s approval was mandatory before disbursing the first tranche, with the rest to arrive later in installments. The IMF ex

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Last updated : 14 July 2023 clock 10:36 AM

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