ISLAMABAD: The International Monetary Fund (IMF) and Pakistan has reached a bailout package deal as talks between the two sides were finalised during a recent visit by the Pakistani delegation to the United States.

The IMF agreed to a three-year bailout package for Pakistan, after a high-level delegation led by Finance Minister Asad Umar met with IMF and World Bank officials on the sidelines of the annual Spring Meeting in Washington, DC, sources said.

The IMF, in an annual report released on Tuesday, warned that Pakistan’s growth rate may remain at 2.5 per cent till 2024 unless Islamabad undertakes much-needed economic reforms.

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