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Facing its worst economic crisis, Pakistan reaches draft deal for critical US$3 billion IMF bailout

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Pakistan has reached a draft deal for US$3 billion in financial aid from the International Monetary Fund (IMF) after an 8-month delay, the IMF announced on June 30, 2023. The decision was long awaited by the South Asian nation, which has been teetering on the brink of default while struggling with its worst financial crisis since 1947.

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