After the massive flood which hit Pakistan the International Monetary Fund(IMF) has agreed to give $451 million. The amount which was given by IMF was given under the emergency natural disaster Assistance(ENDA). From the amount given Pakistan can manage to come out of the devastating floods which affected the country leaving many people homeless.
The approval from the board helps in the immediate disbursement of the amount for the assistance which is emergency. The approval will even help to catalyse and provide adequate level of necessities for the people suffering. The latest installment by IMF of the aid for Pakistan comes for the badly hit economy due to the floods. The most affected was the agriculture sector which comes to about 21% of GDP and 45% employment is also affected.
The lower agricultural output saw a real GDP growth of 2.74% during the year 2010-2011 said IMF report. Pakistan at present is having disruptions in the economic activity and pressure is there in the budget and weakening the payments. After the completion of the assessment updated estimation of the impact will be coming out informed a Washington Based organization. The emergency assistance given by IMF will be given for the Pakistan budget and will help the nation for the additional funding for victims of the flood. Many people around the world has extended their hands for the people of Pakistan in many ways.