Pakistan IMF deal: Rupee to be devalued against dollar

After months of negotiations with the International Monetary Fund, Pakistan reaches agreement on a $6bn loan package.

by

    Pakistan has agreed on a deal with the International Monetary Fund to receive a $6 billion loan.

    But under its terms, its currency will have to be devalued against the dollar, and electricity and gas prices will increase.

    That is likely to prove unpopular.

    Al Jazeera's Kamal Hyder reports from Islamabad.


    YOU MIGHT ALSO LIKE

    Pakistan's tribal areas: 'Neither faith nor union found'

    Pakistan's tribal areas: 'Neither faith nor union found'

    Residents of long-neglected northwestern tribal belt say incorporation into Pakistan has left them in a vacuum.

    Interactive: Plundering Cambodia's forests

    Interactive: Plundering Cambodia's forests

    Meet the man on a mission to take down Cambodia's timber tycoons and expose a rampant illegal cross-border trade.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".