Pak gets IMF nod for $3 billion bailout plan

Islamabad, July 12 In a relief to cash-strapped Pakistan, the International Monetary Fund (IMF) on Wednesday gave a final nod to a much-awaited $3 billion bailout programme for the country to support the government’s efforts to stabilise the ailing economy....

PTI

Updated At : 12:06 PM Jul 13, 2023 IST

Islamabad, July 12

In a relief to cash-strapped Pakistan, the International Monetary Fund (IMF) on Wednesday gave a final nod to a much-awaited $3 billion bailout programme for the country to support the government’s efforts to stabilise the ailing economy.

The development came two weeks after the two sides reached a staff-level agreement over the “stand-by arrangement”. The approval allows for an immediate disbursement of $1.2 billion.

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