Pakistan this week secured a new $7 billion loan from the International Monetary Fund (IMF) aimed at helping the South Asian nation stabilize its ailing economy. But the country now faces challenging budget targets it has pledged to the IMF under the loan deal.

Pakistan's benchmark share index hit a life-time high in opening trade on Thursday, hours after the International Monetary Fund's board approved a long-awaited $7 billion bailout deal for the struggling economy.

Pakistani officials say the executive board of the International Fund has approved a new $7 billion loan for the country.

Pakistan secured final approval to start a $7 billion loan program from the International Monetary Fund, unlocking crucial financing to sustain the nation’s recovery from a crisis.

Pakistan has successfully received the first tranche of the International Monetary Fund’s (IMF) loan following the approval

Pakistan’s leader says the country has met all the conditions set by the International Monetary Fund to qualify for a new $7 billion loan to help prop up its economy.

Pakistan said Thursday it would have to go through "transitional pain" after the International Monetary Fund agreed to a new relief package of $7 billion to bolster its faltering economy.