Islamabad has once again been forced to approach the lender but the loan is a stopgap measure and Prime Minister Imran Khan’s government has to take difficult steps to resurrect the economy.
Pakistan's Finance Minister Asad Umar says he's confident Islamabad will secure International Monetary Fund bailout, following PM Imran Khan's meeting with fund's chief Christine Lagarde in Dubai.
The money will be used to boost foreign currency reserves at Pakistan's central bank as the country faces a balance of payment problem.
The Saudi help came as new Pakistani Prime Minister Imran Khan attended a Saudi investment conference that has been boycotted by several other leaders over the death of a dissident Saudi writer at the country’s consulate in Istanbul.
Islamabad has once again approached the International Monetary Fund for a bailout as it struggles to raise money for imports and to clear debts.
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