Pakistan reaches 'agreement in principle' with IMF over bailout

FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas

ISLAMABAD (Reuters) - Pakistan has reached an "agreement in principle" with the International Monetary Fund (IMF) over a bailout programme and expects to formally secure a rescue package later this month, a Pakistani minister said on Monday.

The long-delayed rescue package would be Pakistan's 13th IMF bailout programme since the late 1980s and comes at a time of worsening economic outlook for the South Asian nation of 208 million people.