There will be transitional pain, but if we are to make it the last programme, then we have to carry out structural reforms,” Finance Minister Muhammad Aurangzeb told local broadcaster Geo News. IMF said it would issue an “immediate disbursement” of around $1 billion.

Pakistani officials say the executive board of the International Fund has approved a new $7 billion loan for the country.

Pakistan's Finance Minister, Muhammad Aurangzeb, forewarned 'transitional pain' as the nation embarks on its 25th IMF program, a $7 billion loan, aiming to be the last. The deal, conditional upon structural reforms,

Pakistan secured final approval to start a $7 billion loan program from the International Monetary Fund, unlocking crucial financing to sustain the nation’s recovery from a crisis.

The International Monetary Fund (IMF) has approved a $7bn (£5.25bn) loan to cash-strapped Pakistan. The country is due to receive the first $1bn of the loan immediately, with the balance to be paid out over the next three years.

Pakistan said Thursday it would have to go through "transitional pain" after the International Monetary Fund agreed to a new relief package of $7 billion to bolster its faltering economy.

The head of the International Monetary Fund has praised Pakistan's economic reforms, crediting them for the approval of a new $7 billion loan program for the financially struggling nation. The remarks by IMF Managing Director Kristalina Georgieva were aired on Pakistani television channels Thursday.