'Sinking' Pak rescued by IMF from default; $1.1 bn aid for flood-hit country

IMF comes to Pakistan’s rescue as catastrophic floods wreak havoc. The International Monetary Fund has agreed to release $1.17 billion in funds to the government of Pakistan as the country deals with a spiralling flood toll. The money was originally part of a government bailout loan from 2019. But the final payments had been held up by the IMF after the previous government under Imran Khan failed to meet demands to cut energy subsidies. The IMF board has now agreed to release the fund given the unprecedented flood fury. Currently, one-third of Pakistan is under water as the death toll crosses 1,100. Watch this report to know more.