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IMF Approves $3 Billion Bailout For Cash-Strapped Pakistan

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Overview

  • Saudi Arabia deposited $2 billion into Pakistan's central bank to bolster foreign exchange reserves.
  • The United Arab Emirates provided $1 billion in financial support to Pakistan's central bank.
  • The IMF bailout aims to stabilize Pakistan's economy and address fiscal and external deficits.
  • The financial assistance from allies allowed Pakistan to unlock the IMF bailout and avoid default.
  • The IMF bailout will help Pakistan implement economic reforms and attract further financing.