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Pakistan Finance Minister Who Secured IMF Bailout to Step Down
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wsj.comISLAMABAD, Pakistan—In the midst of a deepening economic crisis, Pakistan will get a new finance minister after the incumbent lost support from his political party for agreeing to austerity measures in an effort to win a bailout from the International Monetary Fund.
Pakistan is seeking to climb out of a balance-of-payments crisis that has seen foreign currency reserves fall to perilous levels. Making things worse, massive flooding this summer caused billions of dollars of damage to the economy.
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