IMF approves revival of Pakistan loan programme as monsoon death toll rises

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IMF approves agreement to revive massive loan programme for Pakistan, the finance minister says, as the country grapples with devastating monsoon flooding that deepened the economic turmoil

The assistance is seen as crucial for Pakistan, which is currently struggling to cope with financial and human losses caused by a devastating spell of rains and floods.

"We should now be getting the 7th & 8th tranche of $1.17 billion," Pakistan's Finance Minister Miftah Ismail said on Twitter on Monday.The board of the Washington-based crisis lender also was considering a request to extend the package through June 2023 and add about $1 billion to the total.

Source: Loan Digest (loandigest.net)

 

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