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IMF Grants $2.4 Billion Aid to Pakistan

  • The IMF has approved $2.4 billion in support for Pakistan across two economic initiatives, focusing on reform and climate resilience.
  • The Extended Fund Facility (EFF) review allows Pakistan to receive an immediate $1 billion, totaling $2.1 billion under this arrangement.
  • A new $1.4 billion arrangement under the Resilience and Sustainability Facility (RSF) aims to tackle climate-related vulnerabilities.
  • India's abstention from voting highlighted concerns over Pakistan's track record and potential misuse of funds.
  • Despite challenges, Pakistan shows progress with fiscal surplus, low inflation, and growing foreign reserves as per IMF's statement.

Source: CNBC

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