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Pakistan, IMF near bailout deal

Country pledges to uphold requirements for $5.3 billion loan

Posted: July 5, 2013 at 3:16 a.m.

Pakistan Finance Minister Muhammad Ishaq Dar (center) speaks at a news conference with IMF mission chief Jeffrey Franks (left) on Thursday in Islamabad.

Pakistan took a major step toward averting an economic crisis Thursday, reaching an initial deal with the International Monetary Fund on a bailout of at least $5.3 billion to help shore up the country’s rapidly diminishing foreign reserves.

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Front Section, Pages 6 on 07/05/2013

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