Islamabad: The International Monetary Fund has announced its decision to release $1.2 billion to Pakistan, acknowledging the nation’s efforts in implementing macroeconomic reforms.

According to Radio Pakistan, this recent release brings the total funds disbursed by the Washington-based organization to $3.3 billion. These funds are part of two programs designed to support Pakistan’s economic reforms and to address the impacts of climate change.

IMF Deputy Managing Director Nigel Clarke stated that Pakistan’s commitment to reform implementation has been pivotal in maintaining macroeconomic stability despite recent challenges. He highlighted the importance of Pakistan’s dedication to achieving their primary balance target while still offering necessary emergency assistance in response to severe floods. Clarke emphasized that these actions are crucial in enhancing Pakistan’s credibility in fiscal policy.