IMF Approves a $7 Billion Loan for Pakistan to Help Ailing Economy

The International Monetary Fund welcomed Pakistan’s economic progress but warned that vulnerabilities and structural challenges remain an issue.

International Monetary Fund Headquarters in Washington on Aug. 4, 2023. Madalina Vasiliu/The Epoch Times

The executive board of the International Monetary Fund (IMF) has approved a new $7 billion loan for Pakistan, authorities said on Sept. 25, more than two months after the two sides stated that they had reached an agreement.

The funds are aimed at helping authorities strengthen fiscal and monetary policy and reform and broaden the tax base to boost Pakistan’s economy.