THE International Monetary Funds executive board is expected to meet August 7 to approve the third instalment of its loan to Pakistan, the secretary of ministry of finance said Monday, reports Easy Bourse. All the key (economic) targets have been met and the IMF wanted us to reduce our fiscal deficit, said Salman Siddique, who was part of the latest meeting between the IMF and Pakistani officials. Siddique told reporters the Istanbul meeting was a success and Pakistan will receive the $850 million third instalment by next month. IMF officials were not immediately available for comment. In April, Pakistan received $848 million from the fund, the second instalment of the $7.6 billion loan deal. The South Asian country has so far received $3.9 billion under the 23-month standby facility sanctioned in November to rescue the country from a balance of payments crisis.