The International Monetary Fund has announced to release 1.2 billion dollars to Pakistan, recognizing the country's efforts in macroeconomic reforms.

This brings to 3.3 billion dollars disbursed by the Washington-based fund to Islamabad under two programs aimed at providing financial support for economic reforms and mitigating the impacts of climate change.

IMF Deputy Managing Director Nigel Clarke said in a statement that the implementation of reforms in Pakistan has helped to preserve macroeconomic stability despite recent shocks to the country.

He said the authorities' commitment to meeting their primary balance target while providing the necessary emergency assistance in response to severe floods is an important signal of their willingness to strengthen their credibility in fiscal policy.