Economics
IMF Agrees to $6 Billion Bailout to Help Pakistan Ease Crisis
- IMF accord requires board approval and would cover three years
- Weak economic outlook led to Pakistan’s credit score downgrade
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Pakistan and the International Monetary Fund reached an agreement on a loan of about $6 billion designed to help the South Asian nation avert an economic crisis.
The lender’s executive board will meet to approve the agreement for the 39-month loan, “subject to the timely implementation of prior actions and confirmation of international partners’ financial commitments,” IMF’s mission chief Ernesto Ramirez Rigo said in a statement.