Why did Pakistan need the IMF deal? What does it need to do now?

The International Monetary Fund and Pakistan have reached a staff-level agreement on a bigger than expected $3bn Stand-By Arrangement (SBA), a last-minute rescue package for the country facing an acute balance of payments crisis.

Islamabad was racing against time to unlock $1.1bn under the IMF’s ninth review of a $6.5bn Extended Fund Facility agreed upon in 2019. The programme was due to expire on Friday.

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Pakistan, IMF reach $3bn staff-level agreement
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Few buyers for Eid camels as record inflation hits Pakistan
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Pakistan PM Sharif requests IMF release $1.1bn tranche READ MORE

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