The International Monetary Fund’s board has approved a roughly $700 million loan for Pakistan under a $3 billion bailout, the fund and the finance ministry said on Thursday. The IMF’s completion of its first review of the programme and the board’s decision allows for an immediate disbursement of special drawing rights worth around $700 million, bringing the total disbursements under the Standby Arrangement (SBA) to SDR 1.422 bullion (about $1.9 billion), the fund said.
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