IMF staff strike deal for $6 billion Pakistan bailout

Staff at the International Monetary Fund have agreed in principle to a $6 billion bailout for Pakistan, after the authorities called on the fund for support.

The agreement, which still must be confirmed by the IMF’s executive board, opens up the possibility of funding in exchange for some tough reforms to fiscal policy and the central bank’s approach.

As well as major fiscal consolidation by the government, fund staff agreed with the local authorities that the State Bank of Pakistan should