Pakistan says IMF board has approved over $1.1 billion in bailout funds


FILE PHOTO: Pakistan's finance minister Miftah Ismail speaks during an interview in Islamabad, Pakistan December 28, 2017. REUTERS/Faisal Mahmood/File Photo

ISLAMABAD (Reuters) -The International Monetary Fund (IMF) board on Monday approved the seventh and eighth reviews of Pakistan's bailout programme, Finance Minister Miftah Ismail said, which will release $1.17 billion in funds to the cash-strapped country.

He also said the IMF had agreed to extend the programme by a year and augment the funds by $1 billion.

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