IMF approves $6 billion loan for Pakistan.

The IMF Executive Board approves $6 billion loan program for Pakistan to provide support for Pakistan.

According to reports of Baaghitv, International Monetary Fund, the international lending institution, has approved 46 billion aid program for Pakistan to provide support to Pakistan’s ailing economy and to return sustainable growth to Pakistan. Pakistan and IMF had already agreed on deal but the final approval was pending on the conditions to be meet by Pakistan.

IMF spokesperson Gerry Rice confirmed this development through a tweet.

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. pic.twitter.com/HCAMr1KWfK

— Julie Kozack (@IMFSpokesperson) July 3, 2019

It is expected that the first tranche of the $6 billion loan, $500 million will be released in this month ie, July.