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.