The International Monetary Fund (IMF) board on Monday approved the revival of a bailout loan program for Pakistan, whose economy has been worsened by monsoon floods.
The IMF’s approval will allow an immediate disbursement of $1.1 billion to Pakistan.
Finance Minister Miftah Ismail took to Twitter to express his gratitude for Prime Minister Shehbaz Sharif’s efforts to save Pakistan from default. Alhamdolillah the IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion. I want to thank the Prime Minister @CMShehbaz for taking so many tough decisions and saving Pakistan from default. I congratulate the nation….