The IMF will provide a $1bln loan to help Pakistan avert a potential default and pave the way for more aid from other multilateral institutions. The country’s foreign exchange reserves fell to $8.24bln, less than two months’ worth of imports. Inflation accelerated to the fastest in more than two years, and the Pakistani rupee declined 17% this year. The country needs at least $41bln to repay its debt and fund the imports of essential goods.