IMF approves agreement to revive massive loan programme for Pakistan, the finance minister says, as the country grapples with devastating monsoon flooding that deepened the economic turmoil
The assistance is seen as crucial for Pakistan, which is currently struggling to cope with financial and human losses caused by a devastating spell of rains and floods.
"We should now be getting the 7th & 8th tranche of $1.17 billion," Pakistan's Finance Minister Miftah Ismail said on Twitter on Monday.The board of the Washington-based crisis lender also was considering a request to extend the package through June 2023 and add about $1 billion to the total.
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Pakistan flooding deaths pass 1,000 in ‘climate catastrophe’Officials in Pakistan say deaths from widespread flooding have topped 1,000 since mid-June and the country’s climate minister called the deadly monsoon season “a serious climate catastrophe.” Flash flooding from the heavy rains has washed away villages and crops as soldiers and rescue workers evacuated stranded residents to the safety of relief camps and provided food to thousands of displaced Pakistanis. The country’s National Disaster Management Authority reported Sunday the death toll since the monsoon season began earlier than normal this year in mid-June. Deaths reached 1,033 people after new fatalities were reported in Khyber Pakhtunkhwa and southern Sindh provinces.
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Pakistan counts nearly 1,000 dead in monsoon floodingThe new death toll came a day after Prime Minister Shahbaz Sharif asked for international help in battling deadly flood damage in the impoverished Islamic nation.
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