A street vendor selling miswaks (a teeth cleaning twig) and face masks waits for customers next to her daughter in Lahore. AFP
"While uncertainty remains high, the near-term economic impact of COVID-19 is expected to be significant, giving rise to large fiscal and external financing needs," the international lender said in a statement.
Pakistan has recorded just over 100 deaths but experts have voiced fear that the country of 215 million people could see a rapid and devastating increase due to its shortage of medical infrastructure and crowded cities.
Worried about hurting an already weak economy, Prime Minister Imran Khan has resisted a sweeping, nationwide lockdown but provinces have shuttered schools and companies.
"The domestic containment measures, coupled with the global downturn, are severely affecting growth and straining external financing," said Geoffrey Okamoto, the IMF's first deputy managing director.
"This has created an urgent balance of payments need," he said.
He voiced support for actions taken in Pakistan including a boost in spending on public health and the social safety net to brace for a worsening crisis.
He also credited the central State Bank of Pakistan with measures that have included lowering its benchmark rate and supporting liquidity.
The IMF said it was providing the $1.386 billion under a so-called rapid financing instrument, which addresses emergencies and does not subject a country to a full-fledged reform program that undergoes review.
Pakistan is a longtime recipient of help from the IMF and is already under a three-year, $6 billion program that was approved last year.
Okamoto said Pakistan needed to recommit to its goals under the package once the crisis abates, including restoring its public finances and governance.
Special Assistant to Prime Minister on Political Communication Shahbaz Gill said that there was no increase in the prices of petroleum products despite the continuous rise in the prices in the world market.
The International Monetary Fund (IMF) said it approved a $500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan programme.
The State Bank of Pakistan (SBP) said that following the difficult but necessary stabilisation efforts during the first nine months of the fiscal year 2019-20, the country’s economy was well on course for a steady recovery
Social media users reacted strongly to the video and the villagers' predicament with comments slamming the concerned authorities for reneging on their promise to provide good rural connectivity.
The marriage of Crown Prince Hussein, 28, and Saudi architect Rajwa Al Saif, 29, drew a star-studded guest list including Britain's Prince William and his wife Kate, as well as US First Lady Jill Biden.
The authorities said that after the issuance of the visit visa, the tourist must enter the country within 60 days from the date of issuance, and the validity of the entry permit will be 30 days or 60 days, depending on the visa sought.
Dubai's Roads and Transport Authority (RTA) has installed over 17,500 new directional signs in parking control zones across Dubai. These signs provide details about public parking fees, service hours, and payment channels.