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AP National

IMF delays $6B bailout for cash-strapped Pakistan

KIFI
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Published 12:12 AM

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — The International Monetary Fund has delayed a $6 billion bailout for cash-strapped Pakistan. Authorities said Friday that progress had been made during talks this week about Pakistan’s compliance with the terms of a 2019 IMF bailout. IMF’s key tranche of $1.1 billion has been on hold since December. The impoverished Islamic country is beset by a devastating economic crisis as it struggles to recover from catastrophic flooding and a deadly wave of violence. The deluge killed 1,739 people, destroyed 2 million homes and caused $30 billion in damages. A mosque bombing last month in Peshawar killed 101 people.

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