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BBC: Pakistan IMF: Crucial bailout deal eludes negotiators 

Eleventh-hour negotiations between Pakistan and the International Monetary Fund (IMF) have failed to unlock $1.1bn in crucial funds aimed at preventing the country from going bankrupt. 

A deepening economic crisis has all but emptied Pakistan’s foreign exchange reserves, leaving it barely enough dollars to cover a month of imports and it is struggling to service sky-high levels of foreign debt. 

The IMF team, which leaves Islamabad on Friday, said “considerable progress” had been made after 10 days of talks. 

“Virtual discussions will continue in the coming days,” the head of the IMF mission Nathan Porter said in a statement.  

Read more ….  

Update #1: IMF delays $6 billion bailout for cash-strapped Pakistan (Fox News/AP)

Update #2: No deal as IMF leaves crisis-hit Pakistan (RFI)  

WNU editor: Pakistan going bankrupt is next. Like what has happened with Sri Lanka’s bankruptcy, Pakistan is now going to experience a lot of hurt.