Pakistan seeks assistance from IMF

Friday, 12 October 2018 07:00

Pakistan has formally approached the International Monetary Fund (IMF) for financial assistance.

IMF Managing Director Christine Lagarde confirmed the request came during her meeting with Finance Minister Asad Umar and State Bank Governor Tariq Bajwa during the annual meeting of the IMF and World Bank in Bali.

An IMF team will visit the country in the coming weeks for discussions on a possible economic-support programme.

The announcement followed the highest single-day loss in a decade in the Pakistan stock exchange.

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