The International Monetary Fund (IMF) has approved $6 billion loan package for Pakistan to resuscitate the country's ailing economy.
Around $1 billion will be immediately disbursed with the remainder to be phased in over the three-year period of the programme, subject to quarterly review.
Despite IMF's tough conditions, Pakistan has accepted the package in a bid to rein in mounting debts and stave off a looming balance of payments crisis.
An additional $38 billion from Pakistan's international partners will also be unlocked over the programme period.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
AD Ports launches new logistics link between UAE and Iraq
Kuwait plans to boost oil output to 2 million bpd in a week
