IMF Approves $1 Billion Pakistan Payment Over India's Objection
By and Ruchi Bhatia
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The International Monetary Fund 's executive board on Friday approved a roughly $1 billion loan disbursements to Pakistan, bringing some relief for the nation's fragile finances amid its worsening conflict with neighboring India.
While a board vote on such a payment is typically a formality — essentially ratifying a deal hammered out in March between IMF staff and the government — the recent escalation in hostilities between the nuclear-armed neighbors put the decision in focus.
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