The KSE-100 index of the Pakistan Stock Exchange saw a significant increase in trade volumes on Thursday, following the government’s agreement with the IMF to receive $700 as part of the Stand-by Agreement. As of 11:34am, the KSE surged by 470.91 points, reaching 57,155.14. The IMF’s funds are part of a second tranche of a $3bn bailout package, with total disbursements now reaching almost $1.9bn. The IMF has emphasized the need for the authorities to restore a market-determined exchange rate and to be wary of potential risks from geopolitical tensions and global financial conditions. Today’s optimism follows a decision by MSCI to reduce the weight of Pakistani shares in its frontier market’s benchmark.