Pakistan agrees to 13th bailout in 30 years from the IMF

Islamabad, Pakistan (CNN)Pakistan will receive around $6 billion in a bailout from the International Monetary Fund (IMF) it was announced Sunday, the thirteenth time the South Asian country has received financing from the IMF in 30 years. Khan met with IMF director Christine Lagarde in February, as he sought to secure funding from the agency despite being a longterm critic of its previous dealings in Pakistan. The IMF has been criticized in the past for imposing strict austerity on receiver nations, forcing governments to cut social programs and privatize national industries. Khan has spoken of the need for a major anti-poverty program to boost Pakistan’s economy and help its worst off citizens, but this will involve considerable spending that is …