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IMF disburses US$1 billion to Pakistan under loan programme

[WASHINGTON] The International Monetary Fund said on Wednesday it had released a US$1.05 billion loan increment to Pakistan as the South Asian country was on track in meeting the conditions of the IMF's loan programme.

The IMF saved Pakistan from possible default by agreeing last September to lend it US$6.8 billion over three years. The cash is being doled out in increments and could stop if Pakistan fails to institute changes such as cracking down on tax evasion and privatising loss-making state companies.

REUTERS