IMF Grants USD 1 Billion Bailout To Pakistan Despite India's Protests

Islamabad: The International Monetary Fund (IMF) on Friday approved the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Faci­li­ty, the Prime Minister's Office (PMO) said.

"Prime Minister Shehbaz Sharif expressed satisfaction over the approval of a USD 1bn dollar instalment for Pakistan by the IMF and the failure of India's high-handed tactics against it," according to a statement issued by the PMO.

It said Pakistan's economic situation has improved and the country is moving towards development.

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