Cash-starved Pakistan acquires $7 billion IMF loan

ISLAMABAD - Pakistan said Saturday that a newly secured multibillion-dollar loan from the International Monetary Fund would help improve the cash-starved country's macroeconomic stability.

The official reaction came hours after the Washington-based global lender announced its preliminary agreement with Islamabad for a "37-month" loan of about $7 billion under the IMF's Extended Fund Facility arrangement.

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