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. 


Pakistan concludes 60-hour joint military exercise featuring 19 states, including Saudi Arabia, US

Updated 10 February 2026
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Pakistan concludes 60-hour joint military exercise featuring 19 states, including Saudi Arabia, US

  • Exercise also featured participation from Turkiye, Uzbekistan, Bangladesh, Egypt, Jordan and Qatar, says military’s media wing
  • Says exercise is designed to enhance professional military skills through exchange of innovative ideas, tactical experiences

ISLAMABAD: A 60-hour-long joint military exercise organized by Pakistan’s army concluded this week at the eastern city of Kharian, featuring participation from 19 countries including Saudi Arabia and the US, the military’s media wing said. 

The 9th International Pakistan Army Team Spirit (PATS) Competition is a 60-hour-long patrolling exercise, which the Pakistani military says is designed to enhance professional military skills through the exchange of innovative ideas, tactical experiences and best practices among participating teams. 

The exercise was held from Feb. 5-9 in the semi-mountainous terrains of Pakistan’s eastern Punjab province, providing participants a “realistic and challenging operational environment.” Pakistan’s Chief of Defense Forces (CDF) Field Marshal Syed Asim Munir attended the closing ceremony of the exercise on Monday and presented awards to participants.

“Over the years, PATS has evolved into a prestigious and highly competitive military exercise, recognized for promoting professional excellence and mutual learning among participating nations,” the Inter-Services Public Relations (ISPR), the military’s media wing, said in a statement. 

“The forum continues to strengthen military-to-military cooperation and understanding, while fostering camaraderie and team spirit in a demanding operational setting.”

This year’s exercise featured participants from 19 countries including Saudi Arabia, Bahrain, Bangladesh, Belarus, Egypt, Iraq, Jordan, Malaysia, Maldives, Morocco, Nepal, Qatar, Sri Lanka, Turkiye, USA and Uzbekistan, the ISPR said.

Indonesia, Myanmar and Thailand attended the exercise as observers while 16 domestic teams from the Pakistan Army and Pakistan Navy, along with observers from the Pakistan Air Force also participated in the event.

Munir appreciated participating teams for their “exceptional professionalism, physical and mental endurance, operational competence and high morale” displayed during the exercise, the military’s media wing said.

“He emphasized the importance of such multinational engagements in enhancing collective preparedness and adapting to the evolving character of modern warfare,” the ISPR added. 

Pakistan routinely holds joint air, ground and sea exercises with regional countries and traditional allies to foster interoperability to counter threats to global peace.