Get the latest news and updates from Dawn

• Warns conflict spillovers could shock energy prices and trade, tighten financing

• Calls for faster tax reforms, broader revenue base; urges tight monetary policy to contain inflation

• Says exchange rate flexibility must remain key economic shock absorber

WASHINGTON The International Mone­tary Fund has approved a new disbursement for Pakistan of about $1.3 billion, acknowledging the nation’s resilience in maintaining economic stability while warning that continued reforms are essential to manage growing risks from the war in the Middle East.