The economic crisis threatening Pakistan was eased on Tuesday. The International Monetary Fund agreed to a $7.6 bailout. This was even though experts warned that the militancy torn country remains as risk without more aid from the West and painful reforms at home.
Approved on Monday, the IMF loan program banished the immediate risk of a currency crash and debt default in a country already bending under the pressure of 25 percent inflation and slowing economic growth. It is happening all over the world, folks, not just here at home in the United States. The Pakistani rupee had slid from 20 percent since March as economic storm clouds gathered around Pakistan. Pakistan is a nuclear-armed country increasingly seen as vital to stabilizing neighboring Afghanistan.
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