Ukraine and the International Monetary Fund

The International Monetary Fund (IMF) has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy.

In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement, in order "to support the authorities' economic stabilization program."

The IMF has approved a $1 billion loan disbursement for Pakistan after signaling approval with recent government reforms.

The money comes from an agreement that was approved in July 2019 for a $6 billion loan over a period of more than three years under the Washington-based crisis lender's Extended Fund Facility.

Argentina has reached an agreement with the International Monetary Fund to refinance more than $40 billion in debt, President Alberto Fernandez has said.

"We had an unpayable debt that left us without a present or a future, and now we have a reasonable agreement that will allow us to grow and comply," Fernandez said on national television on Jan. 28.

Moldovan Prime Minister Ion Chicu told a TV show on Wednesday that the country's public finances were in dire straits owing to the pandemic, and the country desperately needed a new IMF loan to avoid catastrophe.

Ecuadorian government and protestors led by indigenous organizations on Oct. 13 reached a deal to cancel an International Monetary Fund (IMF) package, according to media reports.