Pakistan facing 'significant economic challenges': IMF

Cash-strapped Pakistan, which currently has a currency reserve of less than $8 billion — enough to cover only 1.7 months of imports — approached the Washington-based International Monetary Fund (IMF) in August 2018 for a bailout package after the Imran Khan government took over. The global lender last week formally approved the $6 billion loan to Pakistan, which is facing "significant" economic challenges on the back of "large" fiscal and financial needs and "weak and unbalanced" growth.

By July 09, 2019 at 11:14AM

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