ISLAMABAD, JUL 12: The International Monetary Fund (IMF) on Wednesday approved a 9-month Stand-By Arrangement (SBA) for Pakistan for an amount of about $3 billion days after reaching a staff-level agreement with the country.

“Today, the Executive Board of the International Monetary Fund (IMF) approved a 9-month Stand-By Arrangement (SBA) for Pakistan for an amount of SDR2,250 million (about $3 billion, or 111 percent of quota) to support the authorities’ economic stabilization program,” the global lender said in a statement.