Pakistan appoints Reza Baqir as new central bank governor

Pakistan on Saturday appointed Reza Baqir as its new central bank governor to replace Tariq Bajwa, who was unexpectedly removed from the post on Friday along with the head of the Pakistan tax collection body.

"Notification for Reza Baqir has been issued," Abid Qamar, a spokesman for the Pakistan Central Bank, told Reuters on Saturday night.

The government of Prime Minister Imran Khan, which is currently negotiating the final stages of a bailout with the International Monetary Fund, in April also replaced its finance minister only eight months after Khan came to office.