The International Monetary Fund (IMF) has approved a credit program worth 7 billion dollars for Pakistan, which is facing deepening economic difficulties, DPA reported, quoted by BTA.
About $1 billion will be disbursed immediately as part of the rescue package, the IMF said in its statement.
Since 1958, Pakistan has applied for assistance to the Fund 24 times, under the leadership of different governments.
The IMF statement highlighted that Pakistan's economy remains highly vulnerable and the country faces serious structural challenges.
Pakistan's Prime Minister, Shehbaz Sharif, welcomed the fund's decision and said: "Having achieved economic stability, we will continue to strive for sustainable economic growth."