The Executive Board of the International Monetary Fund (IMF) on Wednesday approved a three-year bailout package worth $6 billion to Pakistan.
“IMF Executive Board approved today a three-year US$6 billion loan to support Pakistan’s economic plan, which aims to return sustainable growth to the country’s economy and improve the standards of living,” Gerry Rice, the IMF spokesperson, confirmed on Twitter.
“The country’s economic plan seeks to return sustainable growth to the economy by adopting reforms to foster stronger and more sustainable growth,” an image in Rice’s tweet read.
The IMF and Pakistan’s government had earlier already signed a staff agreement on May 12 in this regard.
