Pakistan to Get IMF Payout, Buoying Economy Before Election
- Tranche of $3 billion bailout moves to IMF board for approval
- Dollar bonds, stocks have gained on optimism over IMF support
This article is for subscribers only.
Pakistan met targets set by the International Monetary Fund for the next payout under a $3 billion bailout package, boosting confidence in the economy months before the nation holds elections.
The IMF said Wednesday it reached a staff-level agreement with the government after reviewing its economic progress, giving Pakistan access to about $700 million in funding. The pact is subject to approval from the IMF’s executive board, it said.