Pakistani officials say the executive board of the International Fund has approved a new $7 billion loan for the country. The loan is aimed at boosting Pakistan’s ailing economy. Prime Minister Shehbaz Sharif in a statement hailed the deal that his team had been negotiating with the IMF since June.
ISLAMABAD — The executive board of the International Monetary Fund has approved a new $7 billion loan for cash-strapped Pakistan , authorities said Wednesday, more than two months after the two sides said they had reached an agreement.
The loan — which Islamabad will receive in installments over 37 months — is aimed at boosting Pakistan’s ailing economy, officials added. Prime Minister Shehbaz Sharif in a statement hailed the deal that his team had been negotiating with the IMF since June. He thanked Kristalina Georgieva, the head of the IMF and her team, for the approval.
Islamabad expects to receive the first installment of the loan soon, though its exact date was not immediately known.with Pakistan for the new loan. It also came a day after officials said the global lender’s executive board would approve the loan on Wednesday, adding that Pakistan had met all the conditions set by the lender.Sharif thanked China and other friendly countries for facilitating Pakistan’s deal with the IMF.
General News Asia Asia Pacific Politics Pakistan Government I World News International Monetary Fund
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Pakistani woman nominated as international cricket umpireSaleema Imtiaz became the first Pakistani woman to be nominated to the ICC international panel of development umpires, the Pakistan Cricket Board said. Imtiaz’s nomination to the panel makes her eligible to officiate in women’s bilateral international matches and ICC women’s events.
Read more »
New international flights set for winter from Denver International Airport“The airlines wouldn’t be doing this if the routes were not performing economically. And it is a testament to the vision our airport officials have for the future.”
Read more »
Progressive international on Common Dreams's siteProgressive International is an international organization uniting and mobilizing progressive left-wing activists and organizations.
Read more »
Global Cleveland’s International Job and Resource fair to be held Sept. 19The event will connect immigrants, refugees and international students with international-friendly employers in Northeast Ohio.
Read more »
International Box OfficeInternational Box Office breaking news and the latest updates about International Box Office at Deadline Hollywood.
Read more »