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Al Jazeera
Al Jazeera
Business
Abid Hussain

Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package

Pakistan PM Shehbaz Sharif meets with IMF Managing Director Kristalina Georgieva in Paris [File: Press Information Department/Handout via Reuters]

Islamabad, Pakistan – Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement for the release of $1.1bn from a $3bn bailout package the indebted country needed to avert a sovereign default.

“The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF said in a statement on Wednesday.

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