IMF and Pakistan agree on 7-billion-dollar loan deal

The International Monetary Fund-IMF has announced that it reached a staff-level agreement with the government of Pakistan on a loan of about seven billion dollars.

Pakistan has suffered economic difficulties following major flooding in 2022, with its currency values plunging and inflation surging. The agreement is subject to approval by the IMF's executive board and confirmation of necessary financing assurances from Pakistan's development and bilateral partners. The government has introduced new tax reforms to fix the country's finances.