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Pakistan, IMF agree on crucial $3 billion bailout

By Asif Shahzad ISLAMABAD (Reuters) -The International Monetary Fund (IMF) has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default. The deal, subject... Read More.

Factbox-Why Pakistan badly needed the deal with the IMF

By Ariba Shahid KARACHI, Pakistan (Reuters) – The International Monetary Fund has reached a staff-level agreement with Pakistan on a bigger-than-expected $3 billion Stand-By Arrangement (SBA), a last-minute rescue package for the country facing an acute balance-of-payments crisis. Islamabad was racing against... Read More.