The International Monetary Fund’s (IMF) Executive Board will meet in Washington today to approve a $7 billion loan package for Pakistan, which is intended to stabilize the nation’s unstable economy.
This current 37-month bailout program is the 24th aid package provided by the IMF to Pakistan. Pakistan will be qualified to receive funding from other foreign organizations and nations once it has been approved.
Sources state that Pakistan is expected to receive between $1 billion or $1.1 billion as the loan’s first installment by September 30. The sources also stated that the second installment will be received in the same fiscal year following the loan program’s approval.
Following a staff-level agreement reached between Pakistan and the IMF on July 12, the loan is anticipated to be approved.
