Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding.

The deal, which still needs to be approved by the global lender's board, comes after an eight-month delay.

The South Asian nation is facing its worst economic crisis since independence from Britain in 1947.

To help secure the deal, Pakistan's central bank raised its main interest rate to a record high of 22% on Monday.
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