The Internat­ional Monetary Fund (IMF) approved a fresh disbursement of around US$1.2 billion to Pakistan under a bilateral arrangement, highlighting the country “maintained stability” despite the devastating floods.

The IMF Exec­utive Board granted approval under a dual-track bailout, the 37-month Extended Fund Facility (EFF) and the climate-focused Resilience

Sustainability Facility (RSF), on Monday in a meeting held in Washington, Dawn reported on Tuesday.

Cash-strapped Pakistan is currently in 24th IMF programme agreed last year to provide it USD 7 billion dollars over a period of 39 months.

As per the latest approval, Pakistan is allowed to draw USD 1 billion under EFF and USD 200 million under RSF, the report said.

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