Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) to issue the release of $1.2 billion from the bailout package the global agency approved last year.

The IMF in July 2024 had approved a $7 billion bailout package that was aimed to keep Pakistan from defaulting on its loan payments amid a weakening economy.

The IMF said Pakistan’s economic program is helping entrench macroeconomic stability and rebuild market confidence.

Last week, an IMF mission led by Iva Petrova concluded talks with Pakistani authorities on the second review of the EFF agreed in 2024 and the first review for the RSF climate loan agreed this year, but it left Pakistan without signing a staff-level agreement.

How much money will Pakistan get?

Under the agreement, Washington, US-

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