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IMF Approves Billion Loan To Boost Pakistan's Economy

International Monetary Fund Pakistan Economy Shehbaz Sharif
Pakistan Prime Minister Shehbaz Sharif, arrives for the 79th session of the United Nations General Assembly, Tuesday, Sept. 24, 2024, at UN headquarters. (AP Photo/Stefan Jeremiah)

The executive board of the International Monetary Fund has approved a new $7 billion loan for Pakistan, a move aimed at providing financial assistance to the cash-strapped nation. The loan, which will be disbursed in installments over a period of 37 months, is intended to help bolster Pakistan's struggling economy.

Prime Minister Shehbaz Sharif expressed his gratitude for the approval of the loan, which follows months of negotiations between Pakistani officials and the IMF. The Prime Minister specifically thanked Kristalina Georgieva, the head of the IMF, and her team for their support in securing the loan.

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