Pakistan reaches an agreement with IMF worth $6billion
On Sunday, Pakistan reached on an agreement with the International Monetary Funds (IMF) on a bailout package. According to it, Pakistan will receive $ 6Billion for over three years.
The formal approval is yet awaited by the IMF board of directors. This agreement’s aim is to support Pakistan’s “strategy for stronger & more inclusive growth by reducing domestic and external imbalances, removing impediments to growth, increasing transparency and strengthening social spending”, as quoted by the IMF.