Pakistan to Offer Foreign Currency Bond, Hires Commercial Banks: Report
3 years, 8 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 statement that the latest payment brought total disbursements under the Extended Fund Facility to $2 billion since the program was first approved in July 2019. “The Pakistani authorities have continued to make satisfactory progress under the Fund-supported program, which has been an important policy anchor during an unprecedented period,” IMF Deputy Managing Director Antoinette Sayeh said in a statement.

Imf Pakistani Authorities  fund  imf  disbursement  billion  offer  report  pakistani  authorities  currency  pakistan  latest  bond  coronavirus  program  banks  commercial  hires  foreign

History of this topic

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report
1 month, 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
1 month, 2 weeks 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 …

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes
2 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 …

IMF approves a $7 billion loan for Pakistan, $1 billion given immediately
2 months, 4 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?
3 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 has paid over $3.5 billion in interest to IMF in 40 years
4 months, 3 weeks ago

Pakistan has paid over $3.5 billion in interest to IMF in 40 years

Hindustan Times  

Pakistan has paid over USD 3.5 billion in interest on loans to the International Monetary Fund in the last forty years. In the last four years alone, Pakistan borrowed over USD 6.26 billion from the IMF and repaid USD 4.52 billion. In 2024, Pakistan borrowed USD 1.35 billion in Special Drawing Rights from the IMF and repaid USD 646.69 million …

Pakistan to receive yet another loan from the IMF, $7 billion this time
5 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
5 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
5 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’s new government presents its first budget as it seeks a new long-term IMF bailout
6 months, 1 week ago

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Pakistan seeks 24th 'longer and larger' bailout programme from IMF
7 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 …

Pakistan to seek rollover of $12 billion debt to meet budget targets before IMF team’s arrival
7 months, 2 weeks 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 approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
7 months, 3 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 promises Pakistan ‘immediate’ release of $1.1bn loan after key meet
7 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 …

IMF approves disbursal of $1.1 billion loan tranche to cash-strapped Pakistan
7 months, 3 weeks ago

IMF approves disbursal of $1.1 billion loan tranche to cash-strapped Pakistan

India TV News  

Washington: The International Monetary Fund has finally approved the immediate disbursement of the $1.1 billion loan tranche to cash-strapped Pakistan, marking the conclusion of the second economic bailout package, Dawn reported. The IMF reached a staff-level agreement with cash-strapped Pakistan for the release of a $1.1 billion tranche last month, noting that Pakistan's inflation was above target and economic growth …

Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis
8 months, 1 week ago

Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Cash-strapped Pakistan seeking 24th bailout, confirms IMF
9 months 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
9 months 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, IMF reach staff-level deal to release $1.1bn from bailout package
9 months 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 reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package
9 months 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 …

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout
9 months, 1 week 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 new finance minister Muhammad Aurangzeb is an ex-JPMorgan banker: All you need to know
9 months, 1 week ago

Pakistan's new finance minister Muhammad Aurangzeb is an ex-JPMorgan banker: All you need to know

Hindustan Times  

Pakistan’s prime minister Shehbaz Sharif picked former banker from JPMorgan Chase & Co. Muhammad Aurangzeb as country's next finance minister. The 59-year old was appointed to the position after he stepped down as chief executive officer of Pakistan’s biggest bank Habib Bank Ltd. Other possible candidates for the post were longtime Shehbaz Sharif ally Ishaq Dar and ex-central bank governor …

Pakistan’s election chaos casts shadow on next IMF deal
10 months 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 says the IMF executive board approved release of $700 million of $3B bailout
11 months, 1 week 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 secures $655 million Asian Development Bank package
1 year 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 …

Cash-strapped Pakistan will need more IMF loans, says finance minister
1 year, 1 month 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, 1 month 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 …

IMF team to visit Pakistan next week to hold review talks
1 year, 1 month ago

IMF team to visit Pakistan next week to hold review talks

Firstpost  

The first review talks will be held November 2 onwards for the second loan tranche of USD 710 million and a staff-level agreement would pave the way for its approval by the International Monetary Fund board in December The IMF will send its delegation to Pakistan next week to hold talks for the release of USD 710 million second tranche …

Pakistan seeks $11 billion aid from China, Saudi Arabia to keep IMF bailout programme on track: Report
1 year, 2 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 …

Pakistan: 95 million people living under poverty as living standards fall, reveals World Bank
1 year, 3 months ago

Pakistan: 95 million people living under poverty as living standards fall, reveals World Bank

India TV News  

The World Bank has revealed that poverty in the cash-strapped Pakistan has risen by 39.4% since the last fiscal year, pushing an additional 12.5 million people below the poverty line. In its draft policy notes prepared with the help of all stakeholders for Pakistan's next government, the World Bank said that an additional 12.5 million people have been pushed into …

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 4 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, 4 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, 4 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, 4 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, 4 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’s forex reserves double to $8.73 billion
1 year, 5 months ago

Pakistan’s forex reserves double to $8.73 billion

Live Mint  

Pakistan's foreign exchange reserves have surged to a nine-month high following a fresh financial bailout from the International Monetary Fund. The country's reserves nearly doubled to $8.73 billion as of July 14, with inflows coming from the IMF and friendly nations like Saudi Arabia and the UAE. The financial assistance, totaling around $4.2 billion received last week, comes as Pakistan …

IMF warns of ’exceptionally high’ risks for Pakistan
1 year, 5 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, 5 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 …

Pakistan gets another $600 million loan from China: PM Shehbaz
1 year, 5 months ago

Pakistan gets another $600 million loan from China: PM Shehbaz

The Hindu  

Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday. It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the …

Pakistan lost $8.3 bn in remittances, exports in FY23 amid IMF bailout bid
1 year, 5 months ago

Pakistan lost $8.3 bn in remittances, exports in FY23 amid IMF bailout bid

Live Mint  

Earlier this week the International Monetary Fund deposited a much-awaited first installment of $1.2 billion in Pakistan's central bank. The financial infusion was part of a $3 billion new bailout deal that the beleaguered country secured earlier this month after making a slew of changes to comply with conditions set out by the IMF. Recent reports however indicate that Pakistan …

IMF deposits much-awaited $1.2 billion with Pakistan’s central bank under bailout, minister says
1 year, 5 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 …

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF
1 year, 5 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, 5 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, 5 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 …

Pakistan receives USD 1 billion from UAE to boost its reserves
1 year, 5 months ago

Pakistan receives USD 1 billion from UAE to boost its reserves

India Today  

Pakistan on Wednesday received USD 1 billion from the UAE to boost its reserves, a day after Saudi Arabia transferred USD 2 billion to the country's central bank in the wake of a deal with the International Monetary Fund. Finance Minister Ishaq Dar announced the transfer of funds by the Gulf nation on the eve of the board meeting of …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 5 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 …

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar
1 year, 5 months ago

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar

The Hindu  

Pakistan has received deposits of $2 billion from Saudi Arabia, Finance Minister Ishaq Dar said on July 11, ahead of a key meeting of the IMF to endorse a loan for the cash-strapped country. “State Bank of Pakistan has received deposit of $2 billion from the Kingdom of Saudi Arabia. Prime Minister Shehbaz Sharif also extended deep gratitude to the …

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting
1 year, 5 months ago

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting

Associated Press  

ISLAMABAD — Saudi Arabia has deposited $2 billion into Pakistan’s central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country. Dar said that with the Saudi deposit, Pakistan’s foreign exchange reserves which dropped to $9.6 billion last week — …

Pakistan gets $2bn from Saudi Arabia day before key IMF meeting
1 year, 5 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 assures IMF of $8 billion external payments: Report
1 year, 5 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 …

Discover Related