Pakistan will receive around $6 billion in a bailout from the International Monetary Fund -- the thirteenth time the South Asian country has received financing from the IMF in 30 years
Islamabad, Pakistan Pakistan will receive around $6 billion in a bailout from the International Monetary Fund it was announced Sunday, the thirteenth time the South Asian country has received financing from the IMF in 30 years.
The bailout comes despite new Pakistani Prime Minister Imran Khan previously saying he would not seek another bailout from the IMF, as he targeted alternative funding from the Middle East and China. "Pakistan is facing a challenging economic environment, with lackluster growth, elevated inflation, high indebtedness, and a weak external position," IMF representative Ernesto Ramirez Rigo said in statement.
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