IMF Approves $1.1 Billion Loan for Pakistan's Economic Stability

Apr 29, 2024, 11:30 PM

The International Monetary Fund (IMF) has formally approved a $1.1 billion loan tranche for Pakistan under a standby deal, aimed at aiding the country's economic stability. This decision follows discussions between Pakistan's Prime Minister Shehbaz Sharif and the IMF chief, where the Prime Minister reiterated the government's commitment to reviving Pakistan's economy. The IMF board's approval comes amid considerations for a new loan program, and the funds are expected to help maintain Pakistan's economic stability.