IMF Grants $3 Billion Bailout to Pakistan's Struggling Economy

The International Monetary Fund (IMF) has approved a $3 billion bailout program for Pakistan, with an immediate disbursement of $1.2 billion to stabilize the country's ailing economy. Pakistan has been facing a severe balance of payments crisis, with only enough reserves to cover a month of controlled imports. The bailout, a lifeline for Pakistan, comes after months of tough negotiations and will provide a policy anchor for addressing domestic and external imbalances. The government plans to hold elections in October and must undertake fiscal discipline measures to satisfy the IMF.