ISLAMABAD: In a relief to cash-strapped Pakistan, the International Monetary Fund (IMF) on Wednesday gave a final nod to a much-awaited $3 billion bailout programme for the country to support the government’s efforts to stabilise the ailing economy.
The development came two weeks after the two sides reached a staff-level agreement over the “stand-by arrangement”. The approval allows for an immediate disbursement of $1.2 billion.