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IMF TO RELEASE $1.1 BN FROM BAILOUT FUND TO PAKISTAN
Why in the news?
IMF agrees to release $1.1 billion to Pakistan from the bailout fund, citing improved economic position, pending board approval.
About Agreement Reached:
- Pakistan and the IMF have reached a preliminary agreement for the release of $1.1 billion from a $3 billion bailout fund.
- Talks between the IMF and Pakistan’s government led by Prime Minister Shehbaz Sharif concluded in Islamabad.
- Finance Minister Muhammad Aurangzeb and IMF’s mission chief Nathan Porter led the negotiations, which began last week.
| About IMF( International Monetary Fund ):
● Foster global monetary cooperation among its 190 member countries. ● Secure financial stability by providing policy advice and financing for developing nations. ● Facilitate international trade and promote high employment, sustainable economic growth, and poverty reduction worldwide. |
