Pakistan Signs $918 m Loan Agreement with World Bank to Offset BoP Crisis

Pakistan on Tuesday signed three loan agreements worth a total of USD 918 million with the World Bank, its Prime Minister Imran Khan’s adviser on finance has said as the cash-strapped country tries to overcome a ballooning balance-of-payments crisis that threatens to cripple its economy.
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Last month, Pakistan reached an agreement in principle with the International Monetary Fund (IMF) for a three-year, USD 6 billion bailout package aimed at shoring up its finances and strengthening a slowing economy.

Meanwhile, the Asian Development Bank (ADB) has said it is holding meetings with Pakistan on loans.

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Latest from Newsfeed Wednesday, june 19