IMF revives $6-billion bailout for Pakistan's teetering economy

The agreement involves the implementation of prior actions before final approval is given by the IMF

The International Monetary Fund agreed to revive a $6 billion bailout package for Pakistan after more than a month of discussions, providing a major relief to its struggling economy though the government will need to push through with key reforms. Pakistan and IMF have reached a staff-level agreement for the loan review, the IMF said. The agreement involves the implementation of prior actions, notably on fiscal and institutional reforms, before final approval is given by the IMF’s executive board.  

The agreement comes as the South Asian economy grapples with stubborn inflation, due in part to pent-up demand, high global commodity prices