IMF to launch financial assistance talks with Pakistan, says Christine Lagarde

Pakistan has requested financial assistance from the International Monetary Fund to address its economic challenges, IMF Managing Director Christine Lagarde said on Thursday.

Lagarde said in a statement that the request came during her meeting with Pakistani Finance Minister Asad Umar, and central bank governor Tarik Bajwa on the sidelines of the IMF and World Bank annual meetings in Bali.

"An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic program," Lagarde said. "We look forward to our continuing partnership."