IMF grants USD 6.7 bn conditional loan to Pakistan

September 05, 2013 15:00

The International Monetary Fund (IMF) has approved a 6.7 billion dollar loan to Pakistan for the latter to resolve its economic crisis.

Pakistan has been asked to introduce reforms to increase growth, bring down the budget deficit and improve the rate of tax collection to receive the funds, the BBC reports.

The loan amount will be paid out over a period of three years, beginning with the release of 540 million dollars.

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