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Pakistan’s economic fortunes now in the hands of the IMF

With Pakistan’s foreign-currency reserves falling 29% this year to US$12.6 billion by the end of October and the country’s trade deficit ticking ever upward, Islamabad has found itself back at the International Monetary Fund (IMF) to discuss a bailout. First on the IMF’s checklist is devaluation of the Pakistani rupee. The State Bank of Pakistan […]