IMF Reaches $3 Bn Deal With Pakistan

NNA – Pakistan and the International Monetary Fund (IMF) have finally reached a staff-level agreement on a $3 billion stand-by arrangement, providing a glimmer of hope for the South Asian nation as it grapples with the risk of default.nbsp;

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The deal, still pending approval by the IMF board in July, brings some relief to Pakistan after an arduous eight-month delay.nbsp;

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The agreement comes at a critical time as Pakistan confronts a severe balance of payments crisis and a decline in its foreign exchange reserves. — RT

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