Bad news from Islamabad
Srinagar, April 22 -- Pakistan is in its history's worst economic crisis. With no end in sight, Prime Minister Imran Khan has removed his finance minister Assad Umar from his position, and appointed a new chief Abdul Hafeez Sheikh for the finance ministry. Sheikh has served as economic advisor in General Musharraf's government. But keen observers believe that removal of Assad would hardly bring any positive change in the current crisis without a huge bailout package from International Monetary Fund (IMF). While the exact amount of this package has not been determined, Pakistan already owes the IMF billions from previous programs. Since Pakistan is already on Financial Action Task Force's (FATF) grey list, any bailout package from friendly c...
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