ISLAMABAD (Reuters) -The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default. "The disbursement will bring more economic stability in Pakistan," Sharif said in a statement from his office, adding that the standby arrangement was important in saving the South Asian nation from defaulting on its external liabilities.
The Indian government anticipates a decrease in food prices following forecasts of above-normal monsoon rains by the India Meteorological Department (IMD), as stated in the finance ministry s recent monthly economic review. The report highlights expectations of increased crop production due to favorable rainfall.