Pak moves a step closer to IMF bailout package after Imran overhauls team

The funds secured so far "still appear insufficient to place Pakistan's external financing on a sound footing over the medium term

Pakistan moved a step closer to concluding a financial aid package with the International Monetary Fund after Prime Minister Imran Khan overhauled his economic team and chose a former official from the Washington-based lender as governor of the nation’s central bank.

Reza Baqir -- who served in senior positions at the IMF in past 18 years, including as the fund’s resident representative in Egypt -- was named head of the State Bank of Pakistan at the weekend. His predecessor Tariq Bajwa was fired along with the chief of the tax-collecting agency, Mohammad Jehanzeb Khan. Earlier in April, Finance Minister Asad