IMF reaches staff-level agreement with Pakistan on $700 million bailout review

[Collection]Pakistan and the International Monetary Fund (IMF) have reached an agreement for the release of a $700 million second tranche of a $3 billion bailout package. This agreement comes as a major relief for Pakistan, which has been facing a severe balance of payments crisis. The IMF team has praised Pakistan's stabilisation policies and highlighted the need for continued efforts to build resilience in the face of external risks. The successful conclusion of talks is expected to help stabilize Pakistan's economy as it approaches general elections