Pakistan and IMF reach agreement on $1.1bn release from $3bn bailout package

Published: 20 March 2024 at 10:30

Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement for the release of $1.1bn from a $3bn bailout package to avert a sovereign default. The funds are the final tranche of a rescue package agreed upon last year, with Pakistan seeking more financial assistance for its struggling economy. The IMF highlighted Pakistan\'s improved economic position but noted the need for further policy reforms to address economic vulnerabilities. Islamabad is also looking to secure another long-term bailout amidst ongoing financial challenges.

SOURCES

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