IMF deal with Pakistan would revive $6 billion bailout

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — The International Monetary Fund says it has reached a preliminary agreement with Pakistan, toward reviving a $6 billion bailout for the Islamic nation. In Monday’s statement, the IMF said it reached a staff-level agreement with Pakistani authorities on policies and reforms. Pakistan and IMF signed the accord in 2019, but the release of a crucial installment by the fund had been on the hold since earlier this year. That’s when the fund expressed reservations about a delay in Pakistan’s compliance. The IMF statement Monday said that under the staff-level agreement, Pakistan would make key fiscal and institutional reforms. The fund’s executive board still must sign off, a formality.