Pakistan secures $700 million from IMF in standby agreement

In a pivotal move to bolster its economic trajectory, Pakistan on Wednesday successfully negotiated a staff-level agreement (SLA) with the International Monetary Fund (IMF).

The agreement, subject to approval by the IMF’s Executive Board, marks a significant stride in the implementation of Pakistan’s economic program supported by the IMF Stand-By Arrangement (SBA) amounting to$3 billion (SDR 2,250 million).

Upon approval, Pakistan is set to receive a disbursement of around US$700 million (SDR 528 million), bringing the total disbursements under the program to nearly US$1.9 billion.

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This financial injection is expected to provide a substantial impetus to the nation’s economic stabilization efforts.