Ishaq Dar

Pakistan could get temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the International Monetary Fund (IMF) in Washington on June 30.

The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off potential foreign investment.

Pakistan's Supreme Court on July 28  toppled Prime Minister Nawaz Sharif, who resigned after the court ruled he was unfit to hold office and ordered a criminal investigation into his family over corruption allegations.

Nawaz Sharif has resigned as prime minister of Pakistan following a decision by the country’s Supreme Court to disqualify him from office.
The ruling came after a probe into his family’s wealth following the 2015 Panama Papers dump linking Mr Sharif’s children to offshore companies.
Mr Sharif has consistently denied any wrongdoing in the case.

Pakistan will receive the next instalment worth $502 million of its loan from the International Monetary Fund (IMF) in December as part of a three-year economic bailout package, officials said.