Pakistan turns to IMF for aid
Country’s debts to China could spark political concerns
Pakistan formally called on the International Monetary Fund for aid today (October 11), as its current account deficit widens and the central bank’s reserves dwindle.
“An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme,” said IMF managing director Christine Lagarde. “We look forward to our continuing partnership.”
Pakistan’s economy has struggled to overcome major external imbalances, as its strong currency and rapid
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