ISLAMABAD: Pakistan on Thursday asked the International Monetary Fund for a $5.3 billion, three-year loan to boost growth in a bid to rebuild foreign exchange reserves, an energy crisis and a sliding currency.
The move comes just weeks after the new government was sworn into office after winning May elections that provided Pakistan with its first ever democratic transition of power.
The nuclear-armed state had long been expected to seek a fresh bailout package from the IMF after abandoning a $11.3 billion loan program in 2011 after refusing to carry out strict financial reforms.
The move comes just weeks after the new government was sworn into office after winning May elections that provided Pakistan with its first ever democratic transition of power.
The nuclear-armed state had long been expected to seek a fresh bailout package from the IMF after abandoning a $11.3 billion loan program in 2011 after refusing to carry out strict financial reforms.
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