Pakistani officials say the executive board of the International Fund has approved a new $7 billion loan for the country.

Cash-strapped Pakistan announced that in efforts to reduce administrative expenditures, the country has cut nearly 1.5 lakh government jobs, closed six ministries, and merged two others to secure a $7 billion loan deal from the International Monetary Fund (IMF),

Pakistan secured final approval to start a $7 billion loan program from the International Monetary Fund, unlocking crucial financing to sustain the nation’s recovery from a crisis.

Pakistan has requested the International Monetary Fund (IMF) to provide an additional $1.5 billion loan to tackle the effects of climate change in the country, ARY News reported.Pakistan Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva on the sidelines of the 79th session of the United Nations General Assembly (UNGA) in

There will be transitional pain, but if we are to make it the last programme, then we have to carry out structural reforms,” Finance Minister Muhammad Aurangzeb told local broadcaster Geo News. IMF said it would issue an “immediate disbursement” of around $1 billion.