IMF Board Approves Release of Over $1.1 Billion Bailout Funds

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The International Monetary Fund (IMF) board on Monday approved the seventh and eighth reviews of Pakistan’s bailout programme, the country’s finance minister Miftah Ismail said, which will release $1.17 billion in funds to the cash-strapped country.

“The IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion,” Ismail said on Twitter.

The IMF’s resident representative in Islamabad did not immediately respond to a request for comment.

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