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AP National Business

IMF reaches preliminary deal with Pakistan on $6B bailout

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Published 1:06 PM

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — The International Monetary Fund says it has reached a preliminary agreement on a $6 billion bailout package for Pakistan. Thursday’s announcement sets the stage for the revival of the 2019 accord with the IMF for this majority Muslim nation. Pakistan has been facing a serious economic crisis since last year. The release of slightly over $1 billion had been held up this year over IMF concerns about Pakistan’s compliance with the conditions of the bailout by the government of former Prime Minister Imran Khan. The parliament ousted him through a no-confidence vote in April.

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