BBC: Pakistan IMF: Crucial bailout deal eludes negotiators
Eleventh-hour negotiations between Pakistan and the International Monetary Fund (IMF) have failed to unlock $1.1bn in crucial funds aimed at preventing the country from going bankrupt.
A deepening economic crisis has all but emptied Pakistan's foreign exchange reserves, leaving it barely enough dollars to cover a month of imports and it is struggling to service sky-high levels of foreign debt.
The IMF team, which leaves Islamabad on Friday, said "considerable progress" had been made after 10 days of talks.
"Virtual discussions will continue in the coming days," the head of the IMF mission Nathan Porter said in a statement.
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Update #1: IMF delays $6 billion bailout for cash-strapped Pakistan (Fox News/AP)
Update #2: No deal as IMF leaves crisis-hit Pakistan (RFI)
WNU editor: Pakistan going bankrupt is next. Like what has happened with Sri Lanka's bankruptcy, Pakistan is now going to experience a lot of hurt.
3 comments:
Exodus to Canada u fool's
If pakistan goes under we better know where and who is controlling the 200 nuclear weapons in their stockpile. Pakistan collapsing is not a joke, it is not SrI Lanka. This could be Indias biggest 2023 issue to, they can't worry about BS if the Paks aren't controlling the warheads.
The Pak government or ISI could sell them on the black market to Iran, North Korea, even Taiwan or Japan for hard currency, or let them walk out the door to terror groups for cash like AQ or ISIS or the newly armed Joe Biden Afghanistan Taliban.
Sorry bub, we're spying on Americans internet history instead.
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