The International Monetary Fund (IMF) Executive Board approved a review of Pakistan's loan program on Friday, enabling the disbursement of nearly $1 billion in much-needed financing.
It also approved a new $1.4 billion bailout package, despite India's objections.
The IMF said in a statement, "The Pakistani authorities have demonstrated strong commitment to program implementation, contributing to improved financing and external conditions and continued economic recovery."
It is worth noting that India—which also represents Bhutan, Sri Lanka, and Bangladesh on the IMF's Executive Board—abstained from voting, amid ongoing tensions with Pakistan.
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