IMF approves $3bn loan to Pakistan

The IMF has approved a $3 billion loan to Pakistan, aimed to support economic stabilization in this economically troubled nation and protect it against further shocks.

The loan will provide $1.2 billion in immediate disbursal, addressing Pakistan’s balance-of-payments crisis, inflation, the rupee’s low against the dollar, and industrial output decline.

Prime Minister Shehbaz Sharif praised the approval as a significant step in Pakistan’s efforts to achieve macroeconomic stability.