World Bank body chastises Pakistan as it allows army to lead power purchase talks
1 month ago

World Bank body chastises Pakistan as it allows army to lead power purchase talks

Firstpost  

The World Bank’s private finance division has slammed Pakistan’s military-led efforts to renegotiate contracts for wind and solar power, in a letter co-signed by seven other international development organisations that have funded projects in the country, according to a report Pakistan's national flag at the Mausoleum of Muhammad Ali Jinnah in Karachi, Pakistan on August 14, 2022. Reuters File The World Bank’s private finance division has slammed Pakistan’s military-led efforts to renegotiate contracts for wind and solar power, in a letter co-signed by seven other international development organisations that have funded projects in the country, according to a Financial Times report. According to the report, lenders, including the Asian Development Bank and several European development finance institutions, have invested $2.7 billion in Pakistan’s power sector over the past 25 years. Ali, co-chairing the negotiation task force, denied any coercion, and told FT that lenders were “fed misinformation.” He described the talks as “civilian-led” and “very cordial and amicable,” adding that “there will be some hit to returns on equity, but … will still make reasonable profits according to our numbers.” The power ministry referenced Leghari’s previous statement, asserting that the renegotiations would allow the government to reduce power tariffs for consumers and save at least Rs1 trillion.

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Can Pakistan really become a $1 tn economy? World Bank sees a 2035 hope but...
2 months ago

Can Pakistan really become a $1 tn economy? World Bank sees a 2035 hope but...

Firstpost  

Recent comments from Martin Raiser, the World Bank vice president for South Asia, have offered a hopeful outlook for Pakistan’s economy. He highlighted that the World Bank is willing to commit $20 billion to Pakistan over the next decade, but this depends on Pakistan’s economic capacity and its ability to carry out necessary reforms. Grim reality of structural challenges While …

Pakistan’s reliance on Chinese-built power plants is strangling its economy
3 months, 3 weeks ago

Pakistan’s reliance on Chinese-built power plants is strangling its economy

Live Mint  

ISLAMABAD, Pakistan—When Muhammad Imtiaz received an electricity bill of over $120 last summer, he panicked. A decade ago, Pakistan, cripplingly short of power, turned to Beijing to build more than a dozen coal, solar and hydroelectric power plants as part of China’s huge infrastructure push in the country. Pakistan commissioned the Chinese power plants in 2015, yet it didn’t carry …

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes
5 months ago

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes

Live Mint  

Pakistan's finance minister expresses optimism over China's response to its request to lengthen maturities for debt involved in the Belt and Road Initiative. The country is seeking breathing room to lower electricity prices, which have been significantly higher in recent years. Pakistan has seen a period of stability after securing a new $7 billion loan program from the IMF, and …

It Can Cost More to Power a House Than Rent It in Pakistan
7 months, 2 weeks ago

It Can Cost More to Power a House Than Rent It in Pakistan

Live Mint  

-- Electricity bills have outpaced home rental rates for some people in Pakistan, as tariff increases and other reforms to comply with IMF loan conditions spark nationwide protests. The South Asian nation — where nearly half the population survives on less than $4 a day — has seen electricity prices surge 155% since 2021, after the government started hiking industrial …

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
7 months, 3 weeks ago

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms

Live Mint  

Pakistan has sought Chinese help to “reprofile” its debts with rollovers and maturity extensions to create more breathing room for economic reforms it’s seeking to enact under a new International Monetary Fund’s $7 billion loan program. Discussed with central bank officials during a recent visit to Beijing was a proposal to extend the maturity of debt for nine power plants …

Pakistan reaches new $7 billion loan deal with IMF
8 months, 2 weeks 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 …

Cash-strapped Pakistan secures $655 million Asian Development Bank package
1 year, 3 months ago

Cash-strapped Pakistan secures $655 million Asian Development Bank package

Firstpost  

Days after Finance Minister Shamshad Akhtar deemed Pakistan’s public debt unmanageable, the neighbouring country has already acquired a USD 655 million financing package from the Asian Development Bank, which includes a costly USD 300 million loan at market rates Days after Finance Minister Shamshad Akhtar deemed Pakistan’s public debt unmanageable, the neighbouring country has already acquired a USD 655 million …

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 …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 8 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’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 8 months ago

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years

Associated Press  

ISLAMABAD — Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. The latest extension in loan maturities by Beijing was a boost to Pakistan’s fragile foreign exchange reserves, which are still only enough …

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans
1 year, 8 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 …

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 …

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 …

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 assures IMF of $8 billion external payments: Report
1 year, 8 months ago

Pakistan assures IMF of $8 billion external payments: Report

India Today  

Cash-strapped Pakistan has provided the IMF with a financing plan for external payments, in which it has informed the global lender that it will arrange USD 8 billion for the purpose instead of USD 6 billion, according to a media report on Saturday. The Executive Board of the IMF will meet on July 12 to review the SBA for Pakistan …

Bilawal Bhutto Denies Pakistan Is in China's Debt Trap, Says Beijing Provides 'Soft Loans'
1 year, 8 months ago

Bilawal Bhutto Denies Pakistan Is in China's Debt Trap, Says Beijing Provides 'Soft Loans'

News 18  

A day after IMF provided a long-awaited bail-out to cash-strapped Pakistan, Foreign Minister Bilawal Bhutto Zardari dismissed claims that his country is falling into China’s debt trap. In the Nikkei interview, Bhutto Zardari emphasized that most of China’s assistance to Pakistan comes in the form of investments or soft loans, refuting concerns of immediate default on debt despite the ongoing …

Pakistan receives $1 billion from China
1 year, 9 months ago

Pakistan receives $1 billion from China

The Hindu  

Cash-strapped Pakistan has received $1 billion from its close ally China to support its critically low foreign reserves amidst the uncertainty to revive a stalled International Monetary Fund loan. Earlier, Finance Minister Ishaq Dar said Pakistan had paid back $1 billion to China last Monday against a due amount of $1.3 billion and it was hoped that the amount would …

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'
1 year, 11 months ago

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'

Hindustan Times  

Pakistan’s Finance Minister Ishaq Dar said plans to implement fuel subsidies have been shared with the International Monetary Fund to help alleviate the lender’s concerns before it revives a stalled $6.5 billion bailout. Read here: Pakistan inflation skyrockets to 47%, wheat and eggs are more expensive: Report “It’s basically about taking money from rich Pakistanis and giving it to poor …

Pakistan needs urgent foreign loans to avoid debt crisis, World Bank warns
1 year, 11 months ago

Pakistan needs urgent foreign loans to avoid debt crisis, World Bank warns

Hindustan Times  

The World Bank has said that various economic shocks have resulted in nearly four million Pakistanis getting pushed into poverty this fiscal year, The Express Tribune reported. The World Bank also called on Pakistan to immediately arrange for new foreign loans to avoid a "public debt crisis." The World Bank called on Pakistan to immediately arrange for new foreign loans …

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan
2 years ago

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan

Hindustan Times  

The International Monetary Fund said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support. “A staff-level agreement will follow once the few remaining points are closed,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. …

If IMF delays loan Pak will be in deeper troubles, US Bank warns
2 years ago

If IMF delays loan Pak will be in deeper troubles, US Bank warns

Live Mint  

If crisis-hit Pakistan does not secure funding from the International Monetary Fund, the country will need to stop its debt repayments, a US bank warned as Islamabad is close to inking a deal with the IMF to unlock the $1.1 billion loan from the $6.5 billion bail out package. The Bank of America said China can rescue crisis-hit Pakistan because …

Pak’s economy in ’shambles’; China is lending a hand
2 years ago

Pak’s economy in ’shambles’; China is lending a hand

Live Mint  

Pakistan's external foreign debt amounts to $126 billion, out of which $30 billion is held by China, according to the International Monetary Fund data. This amount is three times larger than Pakistan's IMF debt of $7.8 billion and exceeds its borrowings from the World Bank and Asian Development Bank altogether. According to a 2019 study by the Jang Group and …

’We are not beggars’, Pak official says IMF making it tough to give loan
2 years ago

’We are not beggars’, Pak official says IMF making it tough to give loan

Live Mint  

Pakistan and the International Monetary Fund are locked in a debate over an unfinished loan program required for the ongoing economic crisis. A senior official even said, “We are members of the IMF, not beggars, or else our membership be discarded.” “The IMF wanted to support the poor, but what measures it had been insisting us to impose would ultimately …

Pakistan economic crisis: Islamabad receives $700 mn from China bank, eyes $1,300 mn more
2 years ago

Pakistan economic crisis: Islamabad receives $700 mn from China bank, eyes $1,300 mn more

India TV News  

Pakistan economic crisis: Pakistan has received $700 million from the China Development Bank to bolster the country's foreign exchange reserves, which have been under strain due to external debt. The deposit will provide much-needed relief to Pakistan, which has foreign exchange reserves of $3.25 billion as of February 17, barely enough to cover less than three weeks' worth of imports. …

Will crisis-hit Pakistan be able to prevent looming recession?
2 years, 1 month ago

Will crisis-hit Pakistan be able to prevent looming recession?

Live Mint  

The current economic situation of Pakistan has raised the question of whether the cash-strapped country can control mass protests as the cost of living is becoming intolerable for its citizens due to rising inflation, reported Asian Lite International. The current account deficit of the crisis-hit country shrank 90.2% to USD 0.24 billion in January from USD 2.47 billion in the …

Pakistan receives $700 mn from China bank, eyes another $1,300 mn
2 years, 1 month ago

Pakistan receives $700 mn from China bank, eyes another $1,300 mn

Live Mint  

Pakistan has received a deposit of $700 million from the China Development Bank, which will provide a much-needed boost to the country's foreign exchange reserves. Funds $700 million received today by State Bank of Pakistan from China Development Bank," Finance Minister Ishaq Dar announced on Twitter Earlier this week, Dar announced that the board of the China Development Bank had …

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar
2 years, 1 month ago

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar

The Hindu  

Pakistan's all-weather ally China has approved a loan of $700 million to the cash-strapped country, Finance Minister Ishaq Dar announced on Wednesday. The announcement by Dar on the loan by the Board of China Development Bank came a day after Pakistan’s National Assembly unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the …

Pakistan: China approves USD 700 million loan to cash-strapped country
2 years, 1 month ago

Pakistan: China approves USD 700 million loan to cash-strapped country

India TV News  

Pakistan: The all-weather ally of China has approved a major loan of a whopping price to the cash-strapped country 'Pakistan'. The Finance Minister of Pakistan, Ishaq Dar on Wednesday announced that China has approved a loan of USD 700 million. The money bill was passed aiming to fulfill the demands set by the International Monetary Fund for seeking a USD …

Are Pakistan-IMF loan talks back on track? Here's why deal may take a while
2 years, 1 month ago

Are Pakistan-IMF loan talks back on track? Here's why deal may take a while

Hindustan Times  

Pakistan and the International Monetary Fund pledged to continue loan negotiations despite both reaching a deal amid deep economic crisis in the country. “The timely and decisive implementation of these policies along with resolute financial support from official partners are critical for Pakistan to successfully regain macroeconomic stability and advance its sustainable development,” IMF said in a statement. Pakistan, on …

‘Pakistan must move away from…’: Experts’ advise on its economic crisis
2 years, 1 month ago

‘Pakistan must move away from…’: Experts’ advise on its economic crisis

Live Mint  

Pakistan is facing an unprecedented economic crisis as the country's rupee recorded a historic low of 275 to the US dollar, inflation rising to over 27 percent and foreign exchange reserves dropped to the lowest level since 1998 at around USD 3 billion which is not enough even to cover a month's imports. Speaking to PTI, former Indian Army chief …

Pakistan government approves new tax on electricity to meet IMF conditions
2 years, 1 month ago

Pakistan government approves new tax on electricity to meet IMF conditions

The Hindu  

Pakistan is moving swiftly to pacify the IMF with the approval of a new tax on electricity users, including farmers, to raise an additional Rs 170 billion in revenue to meet the conditions of the global lender, according to a statement. Hours later, the Minister chaired the meeting of the Economic Coordination Committee of the cabinet which approved the imposition …

IMF rejects Pakistan's debt management plan, seeks raise in electricity tariff
2 years, 1 month ago

IMF rejects Pakistan's debt management plan, seeks raise in electricity tariff

India Today  

The International Monetary Fund on Thursday rejected Pakistan government's circular debt management plan and asked the authorities to raise the electricity tariff by Rs 12.50 per unit as talks begin on a potential bail out. The newly developed debt management plan seeks to restrict losses of power distribution companies to 16.27% on average during the current fiscal year, Geo News …

Ready to assist Pakistan address its power woes, says US
2 years, 2 months ago

Ready to assist Pakistan address its power woes, says US

Firstpost  

Washington: The US is ready to assist Pakistan in resolving its electricity woes, a top official in the Biden administration has said, hours after the South Asian country faced a nationwide power breakdown due to a “frequency variation” in the national grid. According to the Ministry of Energy, the system of frequency of the national grid went down at 7:34 …

International donors pledge over $10 billion dollars for flood relief in Pakistan
2 years, 2 months ago

International donors pledge over $10 billion dollars for flood relief in Pakistan

Firstpost  

Islamabad: A host of nations and international financial bodies have pledged to give over $10 billion to cash strapped Pakistan most of which will be in the form of project loans to be rolled out over the next three years. According to Pakistan’s Finance Minister Ishaq Dar, around $8.7 billion out of the total of over $10 billion will be …

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia
2 years, 4 months ago

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia

The Hindu  

Cash-strapped Pakistan has secured about $13 billion in additional financial support from its traditional allies China and Saudi Arabia, Finance Minister Ishaq Dar has said, as the government tries to steady the country's weak economy. Responding to another question, Mr. Dar said Saudi Arabia had also “given a positive response” to Pakistan’s request for increasing its financing by another $3 …

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report
2 years, 4 months ago

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report

India TV News  

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report During Prime Minister Shehbaz Sharif’s recent visit to Beijing, the Chinese leadership promised to roll over USD 4 billion in sovereign loans, refinance USD 3.3 billion commercial bank loans and increase currency swap by about USD 1.45 billion — from 30 billion yuan to 40 billion yuan. Cash-strapped …

IMF sets tough conditions for Pakistan to revive $6 billion loan facility: report
2 years, 8 months ago

IMF sets tough conditions for Pakistan to revive $6 billion loan facility: report

India TV News  

IMF sets tough conditions for Pakistan to revive $6 billion loan facility: report The International Monetary Fund has asked Pakistan to set up an anti-corruption task force to review all the existing laws that were aimed at curbing graft in the government departments. Highlights IMF asked Pakistan to set up an anti-corruption task force to review existing laws The cabinet …

Pakistan to Offer Foreign Currency Bond, Hires Commercial Banks: Report
3 years, 11 months ago

Pakistan to Offer Foreign Currency Bond, Hires Commercial Banks: Report

News 18  

The International Monetary Fund last week approved a $ 500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan program. The South Asian nation is now ready to offer a foreign currency bond and has hired commercial banks, according to a report by Bloomberg. The IMF said in a …

Asian Development Bank Approves $300 Million Policy-based Loan to Cash-strapped Pakistan
4 years, 3 months ago

Asian Development Bank Approves $300 Million Policy-based Loan to Cash-strapped Pakistan

News 18  

The Asian Development Bank has approved a USD 300 million policy-based loan to Pakistan to help promote macroeconomic stability in the cash-strapped country. The USD 300 million loan would improve trade competitiveness and export diversification, said Hiranya Mukhopadhyay, Principal Public Management Specialist at the Asian Development Bank. While COVID-19 hit Pakistan at a critical point in its macroeconomic recovery, the …

CPEC Crisis: China plays hard as Pakistan spirals deeper into debt trap | Deep Dive
4 years, 4 months ago

CPEC Crisis: China plays hard as Pakistan spirals deeper into debt trap | Deep Dive

India Today  

Political turbulence, foreign debt limits and the Covid-19 pandemic have all come together to slow down Chinese investment in Pakistan as Beijing holds off on projects under the $62 billion China-Pakistan Economic Corridor, including a $6.1 billion railway renovation plan. Internal Report in Pakistan Blames the Govt The Institute of Policy Reforms, a think-tank run by a senior leader of …

Pakistan to borrow USD 2.7 billion loan from China for CPEC projects
4 years, 4 months ago

Pakistan to borrow USD 2.7 billion loan from China for CPEC projects

Op India  

Pakistan seems to be taking the path of Maldives, Sri Lanka, and several other nations and seeking large loans from China. Imran Khan-led Pakistan govt is seeking USD 2.7 billion loan from the Chinese govt to complete construction projects of package-I of the Mainline-1 project of China Pakistan Economic Corridor. According to the Pakistani media, during the sixth meeting of …

European Union offers 163 million USD package to Pakistan
4 years, 10 months ago

European Union offers 163 million USD package to Pakistan

Deccan Chronicle  

Islamabad: The European Union has offered an aid package of more than USD 163 million to cash-strapped Pakistan to tackle the COVID-19 pandemic and to boost the country's economic and security developments, the EU mission here said in a statement. Androulla Kaminara, the EU Ambassador to Pakistan, met prime minister Imran Khan on Thursday to reiterate the 27-member economic bloc's …

World will take Pakistan seriously once it is economically stable: Pakistan Foreign Minister
5 years, 1 month ago

World will take Pakistan seriously once it is economically stable: Pakistan Foreign Minister

India TV News  

Pakistan's Foreign Minister Shah Mahmood Qureshi on Monday said the world will take his country seriously once it is economically stable. "The world will take Pakistan seriously when we are financially stable," the minister said. The Pakistan foreign minister conceded that many countries were reluctant to speak on the Kashmir issue and the Citizenship Amendment Act because of their economic …

Pakistan, Asian Development Bank sign loan agreement worth USD 1.3 billion
5 years, 3 months ago

Pakistan, Asian Development Bank sign loan agreement worth USD 1.3 billion

India TV News  

Pakistan on Monday signed an agreement with the Asian Development Bank for a loan worth USD 1.3 billion to support the cash-strapped country's public finances and shore up its slowing economy. On Friday, the bank said it has approved a USD 300 million policy-based loan that will help Pakistan to address financial sustainability, governance, and energy infrastructure policy constraints in …

Pakistan's ailing economy gets $1.3-billion infusion from Asian Development Bank; loan comes after Moody's upgrades country's outlook
5 years, 3 months ago

Pakistan's ailing economy gets $1.3-billion infusion from Asian Development Bank; loan comes after Moody's upgrades country's outlook

Firstpost  

Islamabad: Cash-strapped Pakistan received a $1.3-billion loan from the Asian Development Bank on Friday to support the country’s public finances and shore up the slowing economy. The ADB’s quick dispersing special policy-based loan is part of a multi-donor economic reform programme led by the IMF to stabilise Pakistan’s economy after a major deterioration in its fiscal position in 2018, according …

Pakistan's ailing economy gets USD 1.3-billion infusion from ADB
5 years, 3 months ago

Pakistan's ailing economy gets USD 1.3-billion infusion from ADB

India TV News  

Cash-strapped Pakistan received a USD 1.3-billion loan from the Asian Development Bank on Friday to support the country's public finances and shore up the slowing economy. "ADB is committed to providing wide-ranging support to strengthen Pakistan's economy and reduce the risk of external economic shocks," said ADB Director General for Central and West Asia Werner Liepach. While USD 1 billion …

International Monetary Fund praises Pakistan's economic performance, approves loan tranche of $450 million for Islamabad
5 years, 4 months ago

International Monetary Fund praises Pakistan's economic performance, approves loan tranche of $450 million for Islamabad

Firstpost  

The IMF on Friday praised Pakistan’s economic performance and agreed on next steps, paving the way for the release of another portion of a $6 billion, three-year loan package. Washington, United States: The IMF on Friday praised Pakistan’s economic performance and agreed on next steps, paving the way for the release of another portion of a $6 billion, three-year loan …

Pakistan owes China more money than it owes the IMF
5 years, 5 months ago

Pakistan owes China more money than it owes the IMF

Al Jazeera  

Pakistan has been borrowing from Beijing to tide over a financial crisis. Pakistan needs to repay China more than double the amount it owes the International Monetary Fund in the next three years, as loans racked-up to boost foreign exchange reserves and bridge a financing gap become due. The South Asian nation owes $6.7 billion in commercial loans to China …

Pakistan sets a new record by taking a whopping $16 bn of loans in one year
5 years, 8 months ago

Pakistan sets a new record by taking a whopping $16 bn of loans in one year

India TV News  

Pakistan sets a new record by taking a whopping $16 bn of loans in one year As per documents of the Federal government, all the loans were taken in the financial year 2018-19, which includes 11 months of the Imran Khan-led Pakistan Tehreek-e-Insaaf party government, the Express Tribune reported. Setting a new 'record', Pakistan has taken $16 billion in foreign …

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