Monday, 29 November 2021

IMF approves $1.4B in coronavirus aid to Pakistan

NEW YORK: The IMF approved nearly $1.4 billion in emergency aid to Pakistan to help it weather the impact of the coronavirus pandemic.

“While uncertainty remains high, the near-term economic impact of COVID-19 is expected to be significant, giving rise to large fiscal and external financing needs,” the international lender said in a statement.

Pakistan has recorded just over 100 deaths but experts have voiced fear that the country of 215 million people could see a rapid and devastating increase due to its shortage of medical infrastructure and crowded cities.

Worried about hurting an already weak economy, Prime Minister Imran Khan has resisted a sweeping, nationwide lockdown but provinces have shuttered schools and companies.

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