By Tara Oakes

DAVOS. Switzerland (Reuters). A bailout arrangement between Pakistani and the International Monetary Fund was “outdated” in light of a series global crises. This statement came from Bilawal Bhutto Zardari, Pakistan’s Foreign Minister.

This deal was made before COVID. It’s a pre-Afghanistan Fallout Deal. It’s a pre-Ukrainian crises deal. “It is a preinflation agreement,” Bhutto Zardari said to Reuters at the World Economic Forum in Davos.

While Pakistan has entered into a $3 billion IMF three-year deal, the country is not able to meet its strict policy obligations. Doha is the capital of Qatar and talks are ongoing to free funds from Pakistan to stabilize its struggling economy.