IMF approves 451-million-dollar loan for flood-hit Pakistan
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IMF approves 451-million-dollar loan for flood-hit Pakistan
The International Monetary Fund announced it would give Pakistan a 451-million-dollar loan to help the country recover from devastating floods.The IMF said they hoped the cash would help the country manage the immediate aftermath of the massive and devastating floods that have hit the country and spur more lending by international donors.The board's approval enables the immediate disbursement of the full amount of this emergency assistance, the Washington-based body said in a statement.The loan is designed to help Pakistan fill the budget hole left by flooding.
