Pakistan finance minister: IMF board approves release of over $1.1 billion bailout funds

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

"The IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion," Ismail said on Twitter.

The IMF's resident representative in Islamabad did not immediately respond to a request for comment.