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Pakistan foreign minister says $6 billion IMF deal is ‘outdated’

Pakistan foreign minister says $6 billion IMF deal is 'outdated' © Reuters. FILE PHOTO: A woman walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas

By Tara Oakes

DAVOS, Switzerland (Reuters) – An ongoing bailout deal between Pakistan and the International Monetary Fund (IMF) is “outdated” given a number of global crises, its Foreign Minister Bilawal Bhutto Zardari said on Wednesday.

“This deal is a pre-COVID deal. It is a pre-Afghanistan fallout deal. It is a pre-Ukrainian crisis deal. It is a pre-inflation deal,” Bhutto Zardari told Reuters on the sidelines of the World Economic Forum in Davos.

Pakistan entered a three-year, $6 billion IMF deal in 2019, but is struggling to implement tough policy commitments. Talks are underway in the Qatari capital of Doha to release funds to stabilise Pakistan’s struggling economy.

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