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The Independent UK
The Independent UK
National
Via AP news wire

Cash-strapped Pakistan's rupee plunges amid talks with IMF

Pakistan Shahbaz Sharif International Monetary Fund Imran Khan
Copyright 2023 The Associated Press. All rights reserved.

Cash-strapped Pakistan’s currency plunged Thursday against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund for the next tranche of its bailout package.

Pakistan is seeking a crucial installment of $1.1 billion from the fund — part of its $6 billion bailout package — to avoid default. Talks with the IMF on reviving the bailout stalled in the past months.

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