IMF approves $7.6-billion loan
TIMES WIRE REPORTS
The International Monetary Fund agreed to a $7.6-billion bailout for Pakistan, though experts warned that the country remains at risk without more aid and reforms at home.
The IMF loan stopped the immediate risk of a currency crash and debt default.
The IMF said it would quickly disburse the first $3.1 billion to top up Pakistan’s foreign currency reserves, enabling it to pay back bonds that expire early next year.
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