IMF Deadline Today: In Race for Survival, Will Pakistan Lock Lifeline Instalment or Face Economic Default?
1 year, 8 months ago

IMF Deadline Today: In Race for Survival, Will Pakistan Lock Lifeline Instalment or Face Economic Default?

News 18  

Pakistan is desperately looking for the International Monetary Fund to release the next instalment of its bailout loan worth US$1.1 billion, while the duration of the extended loan programme ends on Friday. An IMF bailout loan puts up specific conditions: strong structural reforms to address macroeconomic fundamentals like income, revenue, tax base and free market penetration are a must; policy reforms to address institutional or economic weaknesses must be introduced; and the global funding agency has been categorical in asking Pakistan to trim its defence budget. The IMF Executive Board allowed Pakistan immediate loan instalment of US$500 million for budget support. Due to its internal conditions, Pakistan failed to act on the IMF norms, delaying the ninth review meeting and the US$1.1 billion loan instalment attached with it.

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History of this topic

IMF expresses satisfaction with Pakistan’s economic measures
6 days, 3 hours ago

IMF expresses satisfaction with Pakistan’s economic measures

The Hindu  

An International Monetary Fund mission after a key visit to Pakistan acknowledged that the country achieved a strong implementation of the $7 billion loan programme agreed upon last year, it emerged on Saturday. The IMF delegation led by Nathan Porter visited Islamabad and Karachi from February 24 to March 14 to undertake the First Review for the 37-month extended arrangement …

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister
1 month, 2 weeks ago

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister

Live Mint  

Islamabad, Jan 30 A minister said Pakistan cannot afford the risk of exiting the International Monetary Fund programme with USD 100 billion in external financing requirements in the short to medium term. "We have a narrow path from short to medium term due to USD 100 billion gross external financing needs and cannot be adventurous," Minister of State for Finance …

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts
2 months ago

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts

Firstpost  

Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state bank of Pakistan for another year, according to a report Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state …

Pakistan discusses $7 billion bailout reform with IMF, no new taxes planned
4 months ago

Pakistan discusses $7 billion bailout reform with IMF, no new taxes planned

Firstpost  

The talks in Islamabad came within six weeks of the IMF approving the bailout, an unusual move as it is rare for the fund to discuss reforms ahead of a review of the reform plan under the loan programme. Pakistan’s Finance Minister Muhammad Aurangzeb said that the country discussed its $7 billion bailout reform agenda with the International Monetary Fund …

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report
4 months, 1 week ago

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report

ABP News  

The International Monetary Fund will examine the external financing needs of Pakistan in its performance review discussions next week. The global body will hold an unscheduled discussion in the country and assess the need of new foreign loans to fill almost $2.5 billion in external financing gap needed for the fiscal year. Pakistan is currently facing delays in securing loans …

IMF to assess Pakistan's external financing needs during performance review discussions: Report
4 months, 1 week ago

IMF to assess Pakistan's external financing needs during performance review discussions: Report

New Indian Express  

ISLAMABAD: The IMF's unscheduled performance review discussions in Pakistan next week will primarily focus on the materialisation of new foreign loans to the country to fill nearly USD 2.5 billion in external financing gap for this fiscal year, according to a media report. The International Monetary Fund will assess Pakistan's external financing needs during these discussions, as some planned loans …

IMF approves a $7 billion loan for Pakistan, $1 billion given immediately
5 months, 3 weeks ago

IMF approves a $7 billion loan for Pakistan, $1 billion given immediately

Hindustan Times  

The executive board of the International Monetary Fund has approved a new $7 billion loan for cash-strapped Pakistan, authorities said Wednesday, more than two months after the two sides said they had reached an agreement. “Spending on health and education has been insufficient to tackle persistent poverty, and inadequate infrastructure investment has limited economic potential and left Pakistan vulnerable to …

Is Pakistan’s $7bn IMF bailout package in trouble?
6 months, 1 week ago

Is Pakistan’s $7bn IMF bailout package in trouble?

Al Jazeera  

Pakistan’s deputy prime minister has accused the IMF of stalling on a loan deal, prompting concerns over its fate. Earlier this week, Pakistan’s Deputy Prime Minister Ishaq Dar accused the IMF of “deliberately delaying” the release of funds. Pakistan eventually narrowly avoided default when Shehbaz Sharif, in his first stint as prime minister, managed to secure a new, nine-month long …

Pakistan’s Ambitious Budget Made With an Eye on IMF Deal
7 months, 3 weeks ago

Pakistan’s Ambitious Budget Made With an Eye on IMF Deal

The Diplomat  

Pakistan’s newly elected government recently presented its federal budget for 2024-2025, setting an ambitious tax revenue target of $46.66 billion – a nearly 40 percent jump from the past year. The government’s ambitious budget plans may impress international observers, but the true test will be whether it can overcome these deep-seated challenges to expand the tax net meaningfully. The government’s …

Why Pakistan's IMF bailout won't be its 'last' as PM Sharif says
8 months ago

Why Pakistan's IMF bailout won't be its 'last' as PM Sharif says

Firstpost  

The IMF last week agreed to loan Pakistan $7 billion to bail out its faltering economy. Pakistan’s economic realities may prove Sharif wrong in not too distant future The International Monetary Fund has once again agreed to extend a substantial $7 billion loan to Pakistan to stabilise its teetering economy. Pakistan Prime Minister Shehbaz Sharif told his ministers that this …

Pakistan to receive yet another loan from the IMF, $7 billion this time
8 months, 1 week ago

Pakistan to receive yet another loan from the IMF, $7 billion this time

Hindustan Times  

Pakistan and the IMF have agreed on a USD 7 billion aid package spread over more than three years to help the cash-strapped country deal with its chronic economic issues. A participant stands near a logo of IMF at the International Monetary Fund - World Bank annual meeting in Bali, Indonesia “Building on the economic stability achieved under the 2023 …

Pakistan reaches new $7 bn loan deal with IMF
8 months, 1 week ago

Pakistan reaches new $7 bn loan deal with IMF

The Hindu  

Pakistan and the International Monetary Fund have agreed on a $7 billion aid package spread over more than three years to help the cash-strapped country deal with its chronic economic issues. “Building on the economic stability achieved under the 2023 Stand-by Arrangement, IMF staff and the Pakistani authorities have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement …

Pakistan reaches new $7 billion loan deal with IMF
8 months, 1 week ago

Pakistan reaches new $7 billion loan deal with IMF

Associated Press  

Pakistan has reached a staff-level agreement for a new $7 billion loan deal, the International Monetary Fund said Friday, the country’s latest turn to the global lender for help in propping up its economy and dealing with its debts through big bailouts. “The program aims to capitalize on the hard-won macroeconomic stability achieved over the past year by furthering efforts …

Pakistan seeks 24th 'longer and larger' bailout programme from IMF
10 months ago

Pakistan seeks 24th 'longer and larger' bailout programme from IMF

Hindustan Times  

The International Monetary Fund confirmed that the talks with Pakistan are underway on the 24th 'longer and larger' bailout programme under the Extended Fund Facility, reported ARY News. She noted that on April 29, the IMF Executive Board completed the second review of the stand-by arrangement for Pakistan, allowing a disbursement of about USD 1.1 billion, ARY News reported. Pakistan …

IMF team in Pakistan as doubts cloud debt-repayment
10 months, 1 week ago

IMF team in Pakistan as doubts cloud debt-repayment

Deccan Chronicle  

The Washington-based bank's assessment of Pakistan's economy came as an IMF support team reached the country on Friday to hold talks with officials here after Islamabad requested a fresh bailout package under the Extended Fund Facility. Exceptionally high risks notably from delayed adoption of reforms, high public debt and gross financing needs, low gross reserves and the State Bank of …

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad
10 months, 1 week ago

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad

Hindustan Times  

Islamabad, The IMF has said that Pakistan faces major debt-repayment challenges and expressed serious doubts over the cash-strapped country's capacity to repay the global lender, according to a media report on Saturday. IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad The Washington-based bank's assessment of Pakistan's economy came as an IMF support team reached the country …

Pakistan to seek rollover of $12 billion debt to meet budget targets before IMF team’s arrival
10 months, 1 week ago

Pakistan to seek rollover of $12 billion debt to meet budget targets before IMF team’s arrival

The Hindu  

Pakistan has decided to seek a rollover of around $12 billion debt from key allies such as China in the 2024-25 fiscal year to meet a whopping $23 billion worth of gap in its external financing as the federal government aims to achieve budget targets before the expected arrival of an IMF team to the cash-strapped country. According to the …

IMF says its mission will visit Pakistan this month to discuss new loan
10 months, 2 weeks ago

IMF says its mission will visit Pakistan this month to discuss new loan

Hindustan Times  

By Ariba Shahid IMF says its mission will visit Pakistan this month to discuss new loan KARACHI, - An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning its annual budget-making process for the next financial year. Pakistan last month completed a short-term $3 …

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
10 months, 2 weeks ago

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan

Deccan Chronicle  

Washington/Islamabad: The IMF has approved an immediate disbursal of the final tranche of USD 1.1 billion to Pakistan as part of a bailout package, emphasising that the cash-strapped country needs to take tough measures to bring its economy back on track. The International Monetary Fund Executive Board's decision on Monday came after the global lender completed the second and final …

IMF approves final $1.1 billion tranche for Pakistan's bailout package
10 months, 3 weeks ago

IMF approves final $1.1 billion tranche for Pakistan's bailout package

Hindustan Times  

The executive board of the International Monetary Fund approved $1.1 billion in funding for Pakistan on Monday, the agency said in a statement, amid discussions for a new loan. The funding is the second and last tranche of a $3 billion standby arrangement with the IMF The funding is the second and last tranche of a $3 billion standby arrangement …

IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet
10 months, 3 weeks ago

IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet

Al Jazeera  

Pakistan seeks another long-term IMF programme to support its ailing economy but experts say the focus must be on reforms. Islamabad, Pakistan – Cash-strapped Pakistan is poised to receive a $1.1bn loan tranche from the International Monetary Fund after a key meeting of the international lender’s executive board on Monday, even as economists have warned that the country needs deep …

Cash-strapped Pakistan seeking 24th bailout, confirms IMF
11 months, 3 weeks ago

Cash-strapped Pakistan seeking 24th bailout, confirms IMF

Firstpost  

According to the statement, the delegation from the multinational lender and the Pakistani government came to an agreement at the staff level over the second and final assessment of Pakistan’s stabilization program, which is backed by the USD 3 billion standby arrangement that the IMF approved in July of last year According to the statement, Pakistan would have access to …

Pakistan can’t survive without another IMF assistance, says PM Shehbaz Sharif
11 months, 3 weeks ago

Pakistan can’t survive without another IMF assistance, says PM Shehbaz Sharif

Live Mint  

Pakistan Prime Minister Shehbaz Sharif on Thursday said the economy of the country can't survive without another assistance from the International Monetary Fund, news agency Reuters reported. Hoping to get an aid of $1.1 billion tranche from the global financial agency next month, the Pakistan prime minister said the country needs to bring deep-rooted structural reforms with the two-three year …

Pakistan and IMF reach preliminary deal to release $1.1 billion from bailout fund, IMF says
1 year ago

Pakistan and IMF reach preliminary deal to release $1.1 billion from bailout fund, IMF says

Associated Press  

ISLAMABAD — Pakistan and the International Monetary Fund reached a preliminary agreement for the release of $1.1 billion from a $3 billion bailout following dayslong talks in Islamabad, the IMF said Wednesday. An IMF statement said it “has reached a staff-level agreement with the Pakistani authorities” and noted that approval by the IMF’s executive board “is considered a formality.” The …

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package
1 year ago

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package

India TV News  

Washington: The International Monetary Fund on Wednesday announced that it has reached a staff-level agreement with cash-strapped Pakistan for the release of $1.1 billion tranche, the last of the $3 billion financial bailout package, as the global moneylender noted that Pakistan's inflation was above target and economic growth remained modest, reported the Express Tribune. “The IMF team has reached a …

Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package
1 year ago

Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package

Al Jazeera  

The funds are the final tranche of a $3bn programme agreed upon last year to avert a default, as Islamabad seeks another long-term bailout. “The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF said in a statement on Wednesday. The IMF said Pakistan’s “economic and …

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout
1 year ago

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout

Associated Press  

ISLAMABAD — The International Monetary Fund will hold a crucial round of talks with Pakistan’s newly elected government this week to determine whether the country has met conditions for receiving the much needed final $1.1 billion tranche of a $3 billion bailout, officials said Wednesday. Pakistan is likely to get the final installment of $1.1 billion from the IMF under …

Pakistan’s election chaos casts shadow on next IMF deal
1 year ago

Pakistan’s election chaos casts shadow on next IMF deal

Al Jazeera  

Ex-PM Imran Khan has asked the IMF to factor in alleged rigging in recent elections. On Thursday, the global lender said Pakistan’s interim government had “maintained” economic stability. The IMF’s communications chief, Julie Kozack, said the interim government had managed to achieve fiscal targets while also “protecting” the social safety net. “We look forward to working with the new government …

Pakistan’s election: Can the next government bring economic stability?
1 year, 1 month ago

Pakistan’s election: Can the next government bring economic stability?

Al Jazeera  

There will be no honeymoon period for winners of this week’s pivotal 2024 polls as economic challenges loom large. As the country found itself at a precarious juncture, then-Prime Minister Shehbaz Sharif managed to secure a crucial bailout package from the International Monetary Fund – its 23rd fund programme since 1958 – just weeks before the government’s term expired. ‘Anti-populist’ …

Pakistan says the IMF executive board approved release of $700 million of $3B bailout
1 year, 2 months ago

Pakistan says the IMF executive board approved release of $700 million of $3B bailout

Associated Press  

ISLAMABAD — The International Monetary Fund’s executive board approved Thursday the release of $700 million of a $3 billion bailout for cash-strapped Pakistan, the finance ministry said. In a statement, the ministry said the IMF executive board approved the release of the $700 million installment after a first review of Pakistan’s economic reform program. Pakistan has been facing one of …

Cash-strapped Pakistan will need more IMF loans, says finance minister
1 year, 4 months ago

Cash-strapped Pakistan will need more IMF loans, says finance minister

Firstpost  

Cash-strapped Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet. Akhtar said her priority was to immediately start working on the last USD 1.1 billion tranche under the …

Pakistan and IMF reach deal for releasing $700m from $3bn bailout package
1 year, 4 months ago

Pakistan and IMF reach deal for releasing $700m from $3bn bailout package

Al Jazeera  

The much-awaited deal with the global lender is meant to save the cash-strapped country from default. Islamabad, Pakistan – Pakistan and the International Monetary Fund have reached a preliminary deal for the release of $700m from a $3bn bailout package after two weeks of talks with the global lender. The IMF on Wednesday said it reached a staff-level agreement with …

Pakistan seeks $11 billion aid from China, Saudi Arabia to keep IMF bailout programme on track: Report
1 year, 5 months ago

Pakistan seeks $11 billion aid from China, Saudi Arabia to keep IMF bailout programme on track: Report

The Hindu  

Cash-strapped Pakistan is seeking around $11 billion from China and Saudi Arabia as part of efforts to fill external- and domestic resource gaps so that the International Monetary Fund bailout programme remains on track to ensure economic stability until an elected government is formed in the country, according to a media report on September 29. Pakistan Government debt swells to …

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 7 months ago

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China

The Hindu  

Published : Aug 10, 2023 11:00 IST - 6 MINS READ On July 14, the shaky government of a debt-stressed Pakistan won itself a surprising reprieve from the IMF. Pakistan’s government has also succeeded in getting fund flows from “friendly” nations—$3.7 billion from bilateral partners such as Saudi Arabia and the UAE—and a roll-over of around $4 billion in loan …

Pakistan granted rollover on $2.4bn Chinese loan: minister
1 year, 7 months ago

Pakistan granted rollover on $2.4bn Chinese loan: minister

The Hindu  

China has granted Pakistan a two-year rollover on a $2.4 billion loan, Islamabad said Thursday, giving the debt-saddled nation breathing space in its balance-of-payments crisis. Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted earlier this month. Finance Minister Ishaq Dar said China's EXIM …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 7 months ago

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years

News 18  

China has rolled over a USD 2.4 billion loan to its all-weather ally Pakistan for two years to help the cash-strapped country shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Thursday. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal …

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans
1 year, 7 months ago

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans

India TV News  

Stressing that Pakistan needs to end dependence on foreign loans for sustaining its dilapidated economy, the country's Chief of Army Staff General Syed Asim Munir remarked that "all Pakistanis must throw out the begging bowl", reported Geo News. Pakistan Prime Minister Shehbaz Sharif announced that the cash-strapped country will receive $600 million from Beijing amid a swelling debt and low …

IMF warns of ’exceptionally high’ risks for Pakistan
1 year, 8 months ago

IMF warns of ’exceptionally high’ risks for Pakistan

Live Mint  

The International Monetary Fund, based in Washington, has stated in a 120-page report released on Tuesday that Pakistan requires an additional IMF program and assistance from other international lenders beyond the current election cycle and the ongoing standby arrangement. The fund said, “Resolving Pakistan’s structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 8 months ago

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF

India Today  

An assessment from the International Monetary Fund has said that Pakistan's economic challenges were complex and multifaceted and risks were exceptionally high, The Dawn reported. “Resolving Pakistan's structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current programme period,” the Fund said in a report. “A possible successor arrangement could help anchor the policy …

Will Pakistan’s IMF agreement save its economy?
1 year, 8 months ago

Will Pakistan’s IMF agreement save its economy?

Al Jazeera  

It could heIp Pakistan stabilise the economy, but might not improve the government’s popularity. The International Monetary Fund’s board approved a $3bn bailout programme for Pakistan on Wednesday, which includes the immediate disbursal of about $1.2bn to help stabilise the South Asian country’s economy. In February, Global rating agency Moody’s cut Pakistan’s sovereign credit rating by two notches to ‘Caa3’, …

IMF deposits much-awaited $1.2 billion with Pakistan’s central bank under bailout, minister says
1 year, 8 months ago

IMF deposits much-awaited $1.2 billion with Pakistan’s central bank under bailout, minister says

Associated Press  

ISLAMABAD — The International Monetary Fund has deposited a much-awaited first installment of $1.2 billion in Pakistan’s central bank under a bailout deal aimed at helping Islamabad avoid defaulting on its debt repayments, the Pakistani foreign minister said Thursday. U.S. Secretary of State Antony Blinken welcomed the IMF bailout in a tweet saying that the U.S. stands with the Pakistani …

IMF approves much-awaited $3bn bailout for Pakistan, saving it from defaulting on debt
1 year, 8 months ago

IMF approves much-awaited $3bn bailout for Pakistan, saving it from defaulting on debt

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The IMF said in a statement that the executive …

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF
1 year, 8 months ago

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF

News 18  

The International Monetary Fund on Wednesday announced that it has approved a USD 3 billion loan agreement for Pakistan, unlocking crucial funding for the cash-strapped economy. In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilization program.” This follows a staff-level agreement between the fund and …

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt
1 year, 8 months ago

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The International Monetary Fund on …

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt
1 year, 8 months ago

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt

Associated Press  

ISLAMABAD — The International Monetary Fund approved a much-awaited $3 billion bailout for Pakistan on Wednesday, the global lender said, a move that’s likely to save the nation from defaulting on its debt repayments. Later, IMF head Kristalina Georgieva said in a statement that “Pakistan’s economy was hit hard by significant shocks last year, notably the spillovers from the severe …

IMF approves much-awaited $3bn bailout for Pakistan
1 year, 8 months ago

IMF approves much-awaited $3bn bailout for Pakistan

Al Jazeera  

IMF approves release of funds over nine months to support Pakistan’s economic stabilisation programme. In a statement on Wednesday, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilisation programme”. Pakistan has suffered from a balance-of-payments crisis as it tries to service burdensome external debt amid a fraught political …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 8 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

Pakistan gets $2bn from Saudi Arabia day before key IMF meeting
1 year, 8 months ago

Pakistan gets $2bn from Saudi Arabia day before key IMF meeting

Al Jazeera  

The kingdom deposits the money into Pakistan’s central bank before a critical meeting of the global lender on $3bn bailout package. Pakistan has received $2bn in financial support from Saudi Arabia, Finance Minister Ishaq Dar said on Tuesday, a day before the International Monetary Fund’s board is expected to give final approval for a much-needed $3bn bailout. Saudi Arabia deposited …

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default
1 year, 8 months ago

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default

The Hindu  

The International Monetary Fund has agreed to provide $3 billion to Pakistan in badly needed relief to help bail out the impoverished country's ailing economy. Ms. Porter, the IMF’s mission chief to Islamabad, said Pakistan’s economy has faced several heavy blows recently, such as the devastating floods last summer that killed 1,739 people, caused $30 billion in damage and impacted …

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default
1 year, 8 months ago

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default

Associated Press  

ISLAMABAD — The International Monetary Fund has agreed to provide $3 billion to Pakistan in badly needed relief to help bail out the impoverished country’s ailing economy. Porter, the IMF’s mission chief to Islamabad, said Pakistan’s economy has faced several heavy blows recently, such as the devastating floods last summer that killed 1,739 people, caused $30 billion in damage and …

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