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Pakistan formally asks IMF for help

Any bailout will require 'absolute transparency,' warns Lagarde

IMF Managing Director Christine Lagarde announced that Pakistan has formally asked for financial assistance on Oct. 11.   © Reuters

NUSA DUA, Indonesia -- Pakistan has formally asked the International Monetary Fund for financial assistance, the fund said on Thursday, amid concerns over its ability to meet its external debt obligations as the country battles dwindling foreign currency reserves.

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