Pakistan is set to secure around $6 billion over the next three years in a bailout from the International Monetary Fund (IMF).
It's the 13th bailout since the late 1980s that the country has received from the IMF.
"Pakistan is facing a challenging economic environment, with lackluster growth, elevated inflation, high indebtedness, and a weak external position," IMF representative Ernesto Ramirez Rigo said.
The funding still needs approval from the IMF's management.
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DP World appoints Ahmad Yousef Al-Hassan as CEO and MD for GCC
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HSBC CEO says confidence in GCC remains despite regional developments
HSBC on Monday expressed confidence in the Gulf Cooperation Council (GCC) members' economic prospects as the region and the wider Middle East brace for the economic shock from the U.S.-Israeli conflict with Iran.
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