Pak troubles mount; Bank of America warns Sharif Govt ‘only IMF funds can help’

Crisis-hit Pakistan will need to pause debt repayments if it isn’t able to secure funding from the International Monetary Fund quickly enough, according to Bank of America. Pakistan has implemented a series of policy measures including increased taxes, higher energy prices and increasing interest rates to the highest in 25 years to unlock funding from its stalled IMF $6.5 billion loan program. Finance Secretary Hamed Yaqoob Sheikh said Thursday an agreement was likely in the next few days, though Pakistan has missed such timelines in the past. Watch this video for more.