IMF Board Approves $6.7 Billion Loan Package for Pakistan
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The International Monetary Fund approved a $6.6 billion loan for Pakistan intended to help stabilize the nation’s economy and boost its currency reserves.
The three-year program will be disbursed under the IMF’s Extended Fund Facility aimed at aiding nations with long-term payments imbalances, the lender said in a statement in Washington yesterday. The fund had initially agreed on a $5.3 billion loan, with the government requesting more assistance.