Pakistan secures $6 billion IMF bailout to ease economic crisis

Pakistan has secured a 6 billion dollars bailout from the International Monetary Fund, IMF as the country battles to stay off an economic crisis.

The funding which still needs approval from the IMF’s management would be provided over three years.

The agreement comes after months of negotiations.

Pakistan has faced an economic crisis with short supplies of foreign currency reserves and stagnating growth.

In a statement, the IMF says Pakistan faces a challenging economic environment, elevated inflation, high indebtedness and a weak external position.