KABUL, Afghanistan (AP) — The International Monetary Fund on Monday approved the immediate release of the final $1.1 billion tranche of a $3 billion bailout to Pakistan, the global lender said in a statement. Pakistan needs the money to overcome one of the worst economic crises in its history that had raised fears it could default on the payment of foreign debts. As part of the bailout conditions, the government was required to reduce subsidies intended to cushion the impact of rising living costs. This contributed to an increase in prices, especially energy bills, and angered the public. Islamabad also imposed new taxes, another unpopular move. But an IMF official said the country’s “determined policy efforts” have brought progress in restoring economic stability. Moderate growth has returned, external pressures have eased and, while still elevated, inflation has begun to decline, said Antoinette Sayeh, the IMF’s deputy managing director and chair, in the statement. |
Gisele Bundchen shows off her figure in a tiedWas Meghan inspired by fatherDays Of Our Lives sees THREE old faces from the 1980s RETURNShapiro aims to eliminate waiting list for services for intellectually disabled adultsOlivia Culpo enjoys InVogue Williams debuts her new cropped hairdoEsteury Ruiz homers and the A’s beat the Cardinals 6Tesla's new mega factory project in Shanghai to start constructionHong Kong arrests 291 for endangering national security in past 4 years — Radio Free AsiaHoda Kotb, 59, reveals she is STILL single and 'looking for the one'