Pakistan Offers Sharp Shifts to Win IMF Bailout

After a year of fending off an International Monetary Fund bailout, Pakistan’s Prime Minister Imran Khan wants to win one this week with a plan to jolt his economy into shape—potentially at the expense of the agenda that helped him get elected, The Wall Street Journal reported. The IMF board is due to meet Wednesday in Washington to consider whether Pakistan is undertaking enough tough action to get a loan of $6 billion over three years. Mr. Khan came to office in August promising jobs and welfare, but found the government in danger of default, with the economy drowning under budget and balance-of-payments deficits. His administration took months to decide how to address the crisis, looking for an alternative to an IMF rescue likely to require steps that would shred his political program. He got billions of dollars in loans from regional allies—but it wasn’t enough. Read more

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