KARACHI -- Pakistan and the International Monetary Fund have reached a $3 billion bailout deal after months of delays, offering a badly needed respite for the South Asian nation perilously close to economic collapse.
Economy
Pakistan, IMF reach $3bn bailout deal after months of delays
Crucial last-minute agreement offers respite for nation on brink of default
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A currency exchange in Karachi: Islamabad agreed to raise taxes, cut government spending and hike interest rates to meet the IMF's terms for releasing more funds.
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