The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan on the final review of a $3 billion bailout, where the country will receive $1.1 billion after approval from the Fund’s Executive Board, the lender said on Wednesday.

“The agreement recognises the strong program implementation by the State Bank of Pakistan and the caretaker government in recent months, as well as the new government’s intentions for ongoing policy and reform efforts to move Pakistan from stabilisation to a strong and sustainable recovery.

“Given the timing of the Second Review mission, immediately following the formation of the new cabinet, we expect the........

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