Business & Finance
29 June 2023, 7:49 pm 1 minute
Pakistan’s finance minister told Reuters exclusively that the cash-starved country was close to a bailout deal with the International Monetary Fund. Within hours, the IMF announced a $3 billion standby arrangement to help it tide over a balance of payments crisis and Reuters was again the first to report it. The deal is a life-saver for the nuclear-armed country that is teetering on the brink of default for months.
Market Impact
The funds under discussion would offer some respite to Pakistan which is battling an acute balance of payments crisis and falling foreign exchange reserves.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Middle East
Countries: Pakistan
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story