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COVID-19: IMF approves nearly $1.4 billion to Pakistan to meet BoP crisi

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The IMF's decision comes at the request of Pakistan, which faces an urgent balance of payment crisis The International Monetary Fund Thursday approved disbursement of USD1.386 billion as a financial assistance to Pakistan to meet its urgent balance of payment needs stemming from the COVID-19 outbreak.

The IMF's decision comes at the request of Pakistan, which faces an urgent balance of payment crisis. This is in addition to the USD 6 billion bailout package that Islamabad signed with the IMF in July last year to stave off a balance of payment crisis. "The outbreak of Covid-19 is having a significant impact on the Pakistani economy," said Geoffrey Okamoto, the IMF's First Deputy Managing Director and Acting Chair.

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