April 18, 2019 9:16 PM

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Pakistan's Finance Minister Asad Umar resigns

<span style="color: #222222;">Pakistan's Finance Minister Asad Umar abruptly quit the Cabinet on Thursday before securing a multi-billion dollar International Monetary Fund bailout package for the cash-strapped country. </span><br />'' <br />'' <span style="color: #222222;">Umar recently returned from a trip to the US in which the details of Pakistan's next IMF bailout were discussed. </span><br />'' <br />'' <span style="color: #222222;">He said, as part of a Cabinet reshuffle, Prime Minister Imran Khan desired him to take the Energy Minister portfolio instead of Finance. However, he obtained Khan's consent to not take any cabinet position.</span><br />'' <br />'' <span style="color: #222222;">Imran Khan-led government and Umar, in particular, have faced mounting criticism by Opposition parties, members of the business community and citizens over the handling of the economic crisis.</span><br />'' <br />'' <span style="color: #222222;">Pakistan is seeking eight billion dollars from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.</span>

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