Pakistan is reportedly preparing to seek up to $12bn (£9bn) from the International Monetary Fund after Imran Khan takes office, in a bailout that could curb his public spending pledges.

The winner of last week's Pakistan general election will be briefed by officials on the option after he is sworn in next week.

Pakistan's finances are in their worst state for years with only enough foreign exchange reserves to cover two months of imports and a currency that has devalued four times since December. Debt is growing and the current account deficit is widening.

The bailout from the Washington-based fund would mark the biggest in the country's history and the 13th since the 1980s.

“We are in a rough area and need help,” one official told the Financial Times. “I can’t imagine we could do that without the IMF’s support.” The country needed between $10bn and $12bn, the official said.

Mr Khan has other options, including China which has already given Pakistan loans. Local reports that Beijing had agreed an immediate $2 billion loan, caused a late jump in the rupee on Monday.