IMF approves Pakistan flood loan, delays bailout

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ISLAMABAD – The International Monetary Fund (IMF) approved an additional US $450m for emergency flood relief to Pakistan on top of an ongoing standby loan, according to an IMF statement issued September 2.

The IMF will give Pakistan emergency funds under its policy of "Emergency Natural Disaster Assistance." However, allocation of the funds awaits IMF executive board approval, the IMF statement said.

Meanwhile, the IMF postponed the release of the $1.7 billion instalment of the bailout loan and delayed its fifth review of the Pakistani economy until December, Express News reported.