ghazi52
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The Executive Board of the International Monetary Fund (IMF) will convene today in Washington to approve a critical $7 billion loan package for Pakistan, aiming to stabilize the country's fragile economy.
This new bailout program, spanning 37 months, marks Pakistan's 24th IMF assistance package.
With its approval, Pakistan will also be eligible to receive funds from other international organizations and countries.
As per sources, Pakistan is likely to get $1 billion or $1.1 billion as the first instalment of the loan by September 30.
After the approval of the loan program, the second installment will also be received in the same financial year, the sources added.
This new bailout program, spanning 37 months, marks Pakistan's 24th IMF assistance package.
With its approval, Pakistan will also be eligible to receive funds from other international organizations and countries.
As per sources, Pakistan is likely to get $1 billion or $1.1 billion as the first instalment of the loan by September 30.
After the approval of the loan program, the second installment will also be received in the same financial year, the sources added.
