The International Monetary Fund (IMF) has approved the disbursement of US$ 451 million under the Emergency Natural Disaster Assistance (ENDA) for Pakistan to help the country stage its economic recovery following the devastating floods that hit recently the Muslim country. The Executive Board's approval enables the immediate disbursement of the full amount of this emergency assistance; with the hope that this disbursement will catalyze and speed up an adequate level of disbursements by other members of the international community, the IMF was quoted as saying by Qatar News Agency (QNA). The US$451 million in emergency assistance will be directed to the country's budget. It will help finance the additional spending to help the population affected by the floods and the associated immediate foreign exchange needs, thereby mitigating a decline in external reserves and supporting confidence in Pakistan's external position.
