Pakistan's EFF Programme revived by the IMF

Current Context: International Monetary Fund (IMF) recently approved Pakistan's Extended Fund Facility (EFF) Programme.

A sum of USD 1.17 billion for the 7th and 8th tranches has been approved by the IMF.
In an executive meeting in Washington, the Board completed the review and the bailout package was approved.
IMF is an international financial organization that was formed as a part of the Bretton Woods Conference in 1944.
It became operational on 27th Dec. 1945 and is primarily responsible for securing global financial stability and promoting international trade.
The headquarters of the IMF is in Washington DC.