Pakistan to redevelop New York's iconic Roosevelt Hotel despite being on brink of collapse

Pakistan has agreed with the US government to jointly redevelop New York's iconic Roosevelt Hotel, despite being on the brink of economic collapse. The project is central to Pakistan's $7 billion (₹63,500 crore) program put forth by IMF. Pakistan's crisis-hit national airline owns the hotel, which shut down in 2020 and is estimated to be worth over $1 billion.