IMF approves $2.8b to alleviate pandemic impact

IMF approves $2.8b to alleviate pandemic impact
IMF approves $2.8b to alleviate pandemic impact

The governing body of the International Monetary Fund (IMF) has approved the allocation of fresh funds to Pakistan in a bit to tackle the challenges emerging from the Covid-19 pandemic.

IMF took a historic decision by allocating the largest SDR in the history of the IMF to boost aid to the most vulnerable countries.

According to the State Bank of Pakistan, the country will receive $2.8 billion this month and the inflows will lift the country’s foreign reserves to a new record high of over $20 billion.

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