Raza nominated to replace Akhtar

Saleem Raza, a former executive at Citigroup, has been nominated as the new governor of the State Bank of Pakistan, after the unexpected resignation of Shamshad Akhtar.

Akhtar, who served as governor for three years, said she would be stepping down on 1 January.

If he accepts the prime minister's offer to replace Akhtar, Raza will step into the governor's position at a particularly challenging time. Pakistan recently signed a loan agreement worth $7.6 billion with the International Monetary Fund

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