United Nations Development Group

The International Monetary Fund (IMF) has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy.

In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement, in order "to support the authorities' economic stabilization program."

Works for UNESCO have been accelerated in the northwestern province of Bursa's İznik district, which is Türkiye's only candidate for the 2024 UNESCO World Heritage List.

Pakistan could get temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the International Monetary Fund (IMF) in Washington on June 30.

The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off potential foreign investment.

BELGRADE - The IMF Executive Board has made a decision on successful completion of the first review of the results of the economic programme of the Republic of Serbia, supported by a stand-by arrangement (SBA), and concluded regular consultations under Article IV of the IMF's Articles of Agreement that were held with Serbia, the National Bank of Serbia (NBS) said in a statement on Thursday.

BELGRADE - The IMF Executive Board has decided that a first review under a stand-by arrangement with Serbia was successful, and Serbian Finance Minister Sinisa Mali said on Thursday the decision was another confirmation of the appropriateness of Serbia's economic policy and structural and institutional reforms.

Greece "wholeheartedly welcomes the United States' decision to rejoin UNESCO," the Foreign Ministry said on Tuesday.

The US announced its intention to rejoin UNESCO next month on Monday.

Türkiye has been elected as a member of the Subsidiary Committee of the Meeting of States Parties to the "UNESCO 1970 Convention," which is an international treaty to combat the illegal trade in cultural items.

Türkiye's membership in the committee will work to promote the protection of cultural assets and their return to their homelands.

Four-year membership

"The International Monetary Fund has yet to record enough banks cutting back on lending, and that could prompt the US Federal Reserve to reverse course with the rate hike cycle". This was stated by the managing director of the IMF, Kristalina Georgieva, in an interview with CNBC, quoted by Reuters.

BELGRADE - Serbian First Deputy PM and FM Ivica Dacic met on Friday with UN Under-Secretary-General and UN Environment Programme (UNEP) Executive Director Inger Andersen, who is on her first working visit to Serbia and the region.

A new targeted investment will help address the critical financing needs of Türkiye's micro, small, and medium enterprises in the agricultural sector, the International Finance Corporation (IFC) has said.

It will help in preserving jobs and aiding economic recovery, with a particular focus on earthquake-impacted areas, the IFC, a member of the World Bank Group, said in a statement.