July 30: Financial Times report by Kiran Stacey and Farhan Bokhari states Pakistan is drawing up plans to seek its largest ever bailout from the International Monetary Fund, with senior finance officials set to present the option to Imran Khan soon after he takes office. Any loan from the IMF, which officials believe is necessary to resolve the country’s escalating foreign reserves crisis, would see the fund impose restrictions on public spending. Such limits would make it difficult for Pakistan’s charismatic new leader to fulfil some of his election promises such as building an “Islamic welfare state”.
Financial Times: Pakistan set to seek up to $12bn IMF bailout
