IMF approves $6 billion bailout package for Pakistan

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IMF approves $6 billion bailout package for Pakistan

*ISLAMABAD - The International Monetary Fund approved on Wednesday a $6 billion bailout package for Pakistan. It is a three-year loan programme. *

The IMF board released $1 billion to Pakistan immediately and said in a statement that the programme aims to “support the authorities’ economic reform program” and to help “reduce economic vulnerabilities and generate sustainable and balanced growth.”

The fund will review Pakistan’s performance quarterly over 39 months, phasing release of the additional aid over time. -APP/AFP