PAK - PAK: More Pain Ahead For Pakistan's Stock Market After IMF Agreement
The International Monetary Fund (IMF) announced on July 3 that its executive board has approved a 39-month agreement to lend around $6 billion to Pakistan. Out of the total approved amount, $1 billion will be disbursed immediately. The IMF expects that the agreement could help usher in $38 bn from Pakistan’s other international partners. The funding will help stabilize Pakistan’s currency and plug the country’s current account deficit (average of $871 million per month in 2019 so far) until positive effects of structural change and the recent PKR devaluation can be seen.
The ETF that