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International relations

Pakistan and IMF negotiators reach $6bn loan deal

Pact will show effective reforms are underway, finance minister says

Pakistan has faced an economic crisis over the past year.   © Reuters

ISLAMABAD (Financial Times) -- Pakistan and IMF negotiators have reached an agreement on a $6bn loan for the country, the finance ministry said last night.

Speaking on state-run Pakistan Television, Abdul Hafeez Shaikh, head of the finance ministry, said: “We have reached an agreement with the IMF staff for $6bn for the next three years. There will be adjustments involved but we will try to make certain that the extent of pain on low-income people is minimal.”

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