IMF approves US$1.13 billion loan to Pakistan
Saturday, May 15, 2010 The International Monetary Fund (IMF) said yesterday that its board has approved a loan package worth US$1.13 billion to be granted to Pakistan. The move came after the IMF reviewed Pakistan’s economic performance with a standby arrangment worth $11.3 billion aimed at improving the country’s balance of payments. According to a statement by the fund, disbursements have reached $7.27 billion from the plan. The IMF described Pakistan’s economic situation as having…