Pakistan reaches accord with IMF on new bailout package: minister

FILE PHOTO: FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas /File Photo/File Photo

May 12, 2019

ISLAMABAD (Reuters) – Technical teams from Pakistan and the International Monetary Fund have reached agreement on a new three-year, $6 billion bailout package, Pakistani Finance Minister Hafeez Shaikh said on Sunday.

Speaking on PTV television, he said the staff level agreement, which must still be approved by the IMF board of directors in Washington, would show that effective reforms were underway in Pakistan.

(Reporting by Syed Raza Khan; Editing by Raissa Kasolowsky)

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