IMF approves second tranche of $450 million for Pakistan.

Islamabad -- The International Monetary Fund (IMF) has approved second tranche worth of 450 million dollars for Pakistan under the 6 billion dollars extended.

Earlier on Friday, the IMF praised Pakistan's economic performance and agreed on next steps, paving the way for release of another portion of 6 billion dollars, three-year financial package.

The approval was given during a meeting held in Washington on Friday. The meeting also reviewed Pakistan's economic conditions.

Once the IMF board gives the go ahead, the Washington-based organization will provide 450 million dollars to help Pakistan's economy. The lender had released 1 billion dollars in July.

IMF Director Gerry Rice said IMF is giving 6 billion dollars for financial reforms in Pakistan, adding that in this regard, an IMF delegation had made a visit to Pakistan in November last year.

It is to mention here that Pakistan has received an...