The executive board of the International Monetary Fund (IMF) on January 11 approved the release of $700 million of a $3 billion bailout for cash-strapped Pakistan, the Pakistani Finance Ministry said. The bailout is meant to enable Pakistan to emerge from an economic crisis touched off by flooding in 2022. The ministry said in a statement that the IMF executive board approved the release of the $700 million installment after a first review of Pakistan’s economic reform program. The release of the $700 million brings the total disbursements under the bailout to $1.9 billion so far.
Pakistan Says IMF Executive Board Approved Release Of $700 Million From Bailout Fund
The release of the $700 million brings the total disbursements under the IMF bailout to $1.9 billion so far. (file photo)