Pakistan seeks IMF help to avoid financial crisis

Financial Crisis Posted on

The International Monetary Fund says Pakistan has asked for help to avoid a looming financial crisis.

High oil prices and dwindling investment from overseas have triggered a balance of payments crisis that is undermining the Pakistani rupee. It also raising the prospect that the country could default on its foreign debts.

The IMF said in a statement Wednesday that the amount of money to be given to the country has yet to be determined.

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