IMF board to meet on Jan. 11 for Pakistan loan program approval 

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., on September 4, 2018. (REUTERS/File)
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Updated 08 December 2023
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IMF board to meet on Jan. 11 for Pakistan loan program approval 

  • The IMF last month said it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout 
  • If approved by its board, the global lender will release a tranche of $700 million to the cash-strapped South Asian nation 

The executive board of the International Monetary Fund (IMF) will meet on Jan. 11 to consider the final approval to hand out to Pakistan the next $700 million tranche of its loan program. 

Last month, the IMF said it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout, which will unlock $700 million in funding for the country. 

The funds to be issued are a second tranche of the bailout, which is subject to an approval from the IMF’s executive board. 

“We can confirm that the Board meeting for Pakistan will take place on January 11,” the IMF said in an emailed statement. 

Pakistan has been facing an acute balance of payment crisis, with its foreign exchange reserves diminished, along with historically high inflation and an unprecedented currency devaluation. 

Bloomberg News first reported on the IMF meeting. 


Saudi Arabia awards Pakistani army chief with King Abdulaziz Medal

Updated 22 December 2025
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Saudi Arabia awards Pakistani army chief with King Abdulaziz Medal

  • Medal recognizes Field Marshal Asim Munir’s efforts in strengthening Saudi-Pakistani friendship, advancing joint cooperation
  • Munir reaffirms Pakistan’s commitment to security, stability and prosperity of Saudi Arabia, says Pakistan military’s media wing

ISLAMABAD: Saudi Arabia’s Minister of Defense Prince Khalid bin Salman presented the King Abdulaziz Medal of the First Class to Pakistan’s Chief of Defense Forces Field Marshal Syed Asim Munir on Sunday in a ceremony at his office in Riyadh, the Saudi Press Agency reported.

The SPA said Munir was awarded the medal following a royal order from Saudi Arabia’s King Salman. The medal recognizes Munir’s distinguished efforts in strengthening Saudi-Pakistani friendship, advancing joint cooperation and developing relations between the two countries.

“Upon the Custodian of the Two Holy Mosques’ directive, Minister of Defense decorates Pakistan’s Chief of Army Staff with King Abdulaziz Medal of Excellent Class,” the SPA wrote on social media platform X. 

Munir’s meeting with Prince Khalid featured a review of historical ties, strategic defense cooperation between the two countries and discussions on promoting international peace and security.

Pakistan military’s media wing said the award also reflects Munir’s contributions toward regional peace and stability, including sustained collaboration in counter-terrorism and security.

“The conferment of the King Abdulaziz Medal of Excellent Class underscores the depth of Pakistan–Saudi Arabia relations and the shared determination of both nations to further strengthen strategic cooperation in pursuit of regional and global peace,” the Inter-Services Public Relations (ISPR), Pakistan military’s media wing, said. 

Munir thanked the Saudi leadership for the honor, describing it as a “reflection of the enduring bonds between Pakistan and Saudi Arabia.”

“He reaffirmed Pakistan’s commitment to the security, stability and prosperity of the Kingdom,” the ISPR said. 

Pakistan and Saudi Arabia have eyed closer economic and defense ties in recent months. The two countries signed a historic strategic defense pact in September this year, according to which an attack on one country will be treated as an attack on both.

In October, Islamabad and Riyadh agreed to launch an Economic Cooperation Framework to expand bilateral trade and investment ties.