The International Monetary Fund is likely to approve second tranche of loan package to Pakistan today as part of its $6 billion bailout program for the country.

IMF spokesperson Gerry Rice said that IMF’s executive board will meet today to review the staff-level agreement with Pakistan to approve $450 million as the second tranche of its $6 billion program.

Also Read: IMF appreciates progress towards economic stabilization

“What that indicates is that all prior actions and performance criteria under the program with Pakistan have been met,” Rice told a news briefing.

And that the financing assurances needed for the program to go forward are in place.”

In the previous month, an IMF mission was in Pakistan to discuss the first review under the financing program.

In July, IMF had approved a $6 billion bailout package for Pakistan.