International Monetary Fund approves $3B bailout for Pakistan
Headline from UPI, on the newest of 2 developments
The International Monetary Fund has approved a bailout program valued at $3 billion for Pakistan to aid the Asian nation in surmounting an economic crisis that has been exasperated by last year's floods.
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Developments in this update
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IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt
Headline from WTOP Washington DC ·
Newest
International Monetary Fund approves $3B bailout for Pakistan
The International Monetary Fund on Wednesday approved a much-awaited $3 billion bailout for Pakistan, the global lender said, a move that's likely to save the nation from defaulting on its debt repayments.
The International Monetary Fund’s executive board will hold a crucial vote on whether to approve a short-term $3 billion loan program for Pakistan later on Wednesday, according to a person familiar with the matter.
Pakistan's finance minister announced Thursday that the IMF had deposited the much-anticipated first installment of $1.2B into the country's central bank as part of a bailout deal.
The funds will help the country avoid default as it grapples with inflation and the aftermath of devastating floods. The IMF has demanded Islamabad implement structural reforms and increase tax collection.
The International Monetary Fund has approved a bailout program valued at $3 billion for Pakistan to aid the Asian nation in surmounting an economic crisis that has been exasperated by last year's floods.
Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.
International Monetary Fund approves $3B bailout for Pakistan | Since Then
