News and Information

Pakistan's Currency Drops as Country Seeks IMF Bailout

Image Group
Baking Business
Pepsico will invest $1 billion in Pakistan over the next five years. Above, Pepsico executive Mike Spanos and Prime Minister Imran Khan in 2018.

The need for IMF assistance is the latest setback for a country that has long struggled to find its footing among Asia's emerging-market economies.

Pakistan, a country of 212 million people with the 39th largest economy in the world, could be on its way to becoming the next Argentina as it waits for the International Monetary Fund (IMF) to approve yet another bailout this one a $6 billion loan to be paid out over the next three years.  If approved, it would be the second IMF bailout in six years and the 22nd since 1958, according to the Wall Street Journal.

The full article is available only to subscribers. Please login or subscribe to view.