Pakistan secures $3bn IMF bailout amidst economic crisis

The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan on a $3 billion stand-by arrangement, providing much-needed financial support to the country as it faces an acute balance of payments crisis and falling foreign exchange reserves. The funding, spread over nine months, is higher than expected and will help stabilize the economy and provide a framework for financing from multilateral and bilateral partners. The deal is subject to approval by the IMF board in July.