IMF to increase Egypt's bailout loan to $8 billion
8 months, 3 weeks ago

IMF to increase Egypt's bailout loan to $8 billion

Firstpost  

The Egyptian economy has been hit hard by years of government austerity, the coronavirus pandemic, the fallout from Russia’s full-scale invasion of Ukraine, and most recently, the Israel-Hamas war in Gaza. The deal was reached after Egypt and the IMF agreed on a reform plan, which includes measures such as floating the local currency, reducing public investment, and fostering private sector growth to drive economic expansion, as outlined in the statement. The disruptions in the Red Sea are also reducing Suez Canal receipts, which are an important source of foreign exchange inflows and fiscal revenue,” said IMF’s Managing Director Kristalina Georgieva. To quickly inject much-needed funds into Egypt’s staggering economy, the EU intends to fast-track 1 billion euros of the package, using an urgent funding procedure that bypasses parliamentary oversight and other safeguards, according to European Commission President Ursula von der Leyen.

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History of this topic

Egypt to Keep Record-High Rate With Eye on Fuel Hike, IMF Review
1 month ago

Egypt to Keep Record-High Rate With Eye on Fuel Hike, IMF Review

Live Mint  

-- Egypt is poised to keep interest rates at a record high as it awaits the full inflationary impact of a fuel-price hike and the completion of a key International Monetary Fund review. The central bank “has little leeway but to keep rates on hold” until the fallout from the fuel increase is clearer, said Mohamed Abu Basha, head of …

Ethiopia receives IMF relief after easing forex curbs
4 months, 3 weeks ago

Ethiopia receives IMF relief after easing forex curbs

The Hindu  

Cash-strapped ased foreign exchange curbs on Monday as part of a broad economic reform package as the International Monetary Fund approved a loan to the Horn of Africa nation seeking a multibillion-dollar bailout. “This a landmark moment for Ethiopia” and the loan is a testament to the country’s “strong commitment to transformative reforms”, IMF Managing Director Kristalina Georgieva said in …

Egypt unlocks $820 million in IMF funding after review
4 months, 3 weeks ago

Egypt unlocks $820 million in IMF funding after review

Hindustan Times  

Egypt completed a much-anticipated review of its expanded International Monetary Fund loan program, unlocking $820 million in support for an economy emerging from its worst crisis in decades. The IMF deal along with a mammoth United Arab Emirates investment are the cornerstones of a $57 billion global bailout for Egypt “The Egyptian authorities’ recent efforts to restore macroeconomic stability have …

Egypt raises fuel prices to lock in IMF loan tranche
4 months, 4 weeks ago

Egypt raises fuel prices to lock in IMF loan tranche

Al Jazeera  

Petrol will cost up to 15 percent more from Friday. Egypt is raising fuel prices for the second time in four months, fulfilling an economic reform condition set by the International Monetary Fund to unlock hundreds of millions in new loans. Egypt’s official gazette reported an up to 15 percent price hike for petrol on Thursday, four days before the …

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 …

Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis
5 months, 3 weeks ago

Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis

Associated Press  

CAIRO — Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro aid package for the cash-strapped Middle Eastern nation. Most of the funds — 5 billion euros — are macro-financial assistance to help Egypt shore up its economy, which is hit by a …

Argentina will get next installment of bailout as IMF praises Milei’s austerity policies
7 months, 1 week ago

Argentina will get next installment of bailout as IMF praises Milei’s austerity policies

Associated Press  

BUENOS AIRES, Argentina — The International Monetary Fund, Argentina’s biggest creditor, agreed Monday to release the next tranche of loans due under a bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The IMF deal follows the completion of its review of Argentina’s compliance record and confirms the next $792 million …

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 confirms increasing Egypt’s bailout loan to $8 billion
8 months, 3 weeks ago

IMF confirms increasing Egypt’s bailout loan to $8 billion

Associated Press  

CAIRO — The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion, in a move that is meant to shore up the Arab country’s economy which is hit by a staggering shortage of foreign currency and soaring inflation. The disruptions in the Red Sea are also …

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 …

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 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 …

Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion
9 months, 2 weeks ago

Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion

Associated Press  

CAIRO — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The measures, announced by the Central Bank of Egypt early Wednesday, were among the key …

Egypt strikes expanded $8bn deal with the IMF
9 months, 2 weeks ago

Egypt strikes expanded $8bn deal with the IMF

Al Jazeera  

The deal comes as the central bank said it would let the Egyptian pound trade freely. Egypt has signed an expanded $8bn deal with the International Monetary Fund, Egypt’s Prime Minister Mostafa Madbouly has said. The deal comes as the central bank said it would let the pound currency trade freely and announced an interest-rate hike of 600 basis points …

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 …

IMF chief says Biden-Xi engagement an important signal for world to cooperate
1 year, 1 month ago

IMF chief says Biden-Xi engagement an important signal for world to cooperate

Firstpost  

The Biden-Xi meeting is ‘important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth,’ IMF Managing Director Kristalina Georgieva said International Monetary Fund Managing Director Kristalina Georgieva said on Friday this week’s meeting between US President Joe Biden and Chinese President Xi Jinping is a badly needed signal that the world …

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: Neighboring economies likely hit by Israel-Hamas war
1 year, 1 month ago

IMF: Neighboring economies likely hit by Israel-Hamas war

CNN  

London CNN — The Israel-Hamas war is likely tohurt other economies in the Middle East, including Egypt, Lebanon and Jordan, International Monetary Fund managing director Kristalina Georgieva said Wednesday. While Wall Street has largely brushed off the war, the United Nations Conference on Trade and Development warned Wednesday of dire consequences for the already hobbled “Palestinian economy,” referring to Gaza …

IMF warns Lebanon that the country is still facing enormous challenges, years after a meltdown began
1 year, 3 months ago

IMF warns Lebanon that the country is still facing enormous challenges, years after a meltdown began

Associated Press  

BEIRUT — Four years after Lebanon’s historic meltdown began, the small nation is still facing “enormous economic challenges,” with a collapsed banking sector, eroding public services, deteriorating infrastructure and worsening poverty, the International Monetary Fund warned Friday. In a statement issued at the end of a four-day visit by an IMF delegation to the crisis-hit country, the international agency welcomed …

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 …

Will Egypt’s asset sale get it out of its economic hole?
1 year, 4 months ago

Will Egypt’s asset sale get it out of its economic hole?

Al Jazeera  

Egypt is privatising – but is it enough to please the IMF and get more funding from the international financial body? The IMF welcomed Egypt’s asset sale, reiterating that “divesting is a critical component” of the loan agreement. “The announced sales will certainly help the government’s talks with the IMF and make the IMF’s task easier – at least in …

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 …

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 …

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 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 gets a lifeline from the IMF with a new $3 billion bailout to help avoid default
1 year, 5 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, 5 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 …

Pakistan hopes for IMF bailout decision in a day or two: PM Shehbaz Sharif
1 year, 5 months ago

Pakistan hopes for IMF bailout decision in a day or two: PM Shehbaz Sharif

Live Mint  

Islamabad hopes a bailout decision from the International Monetary Fund in a day or two, Pakistan Prime Minister Shehbaz Sharif said on Tuesday, after a telephonic conversation with IMF Managing Director Kristalina Georgieva about the bailout funds, reported Reuters. "The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the …

IMF officials and Pakistan’s prime minister hint at deal on $6 billion bailout
1 year, 5 months ago

IMF officials and Pakistan’s prime minister hint at deal on $6 billion bailout

Associated Press  

ISLAMABAD — A senior official with the International Monetary Fund and Pakistan’s prime minister indicated Tuesday a deal could soon be reached on a much-needed $6 billon bailout package for the impoverished south Asian country. The deal envisioned a deadline and if the IMF by Friday decides that Pakistan has not met the terms of the agreement, the fund could …

Analysis: Egypt faces external debt reckoning after borrowing spree
1 year, 6 months ago

Analysis: Egypt faces external debt reckoning after borrowing spree

Firstpost  

The government says it will meet repayments, but it has not delivered on long-promised structural changes to its economy and its bid to raise cash by selling state holdings has failed to offload any major assets for foreign currency for nearly a year. Egypt faces an increasingly tough task raising cash for foreign debt repayments after external borrowing quadrupled over …

Pakistan PM hopeful of IMF deal this month amid escalating crisis
1 year, 6 months ago

Pakistan PM hopeful of IMF deal this month amid escalating crisis

Al Jazeera  

Shehbaz Sharif’s statement comes as Pakistan seeks immediate release of $1.1bn from IMF, part of a $6.5bn bailout package the country signed up for in 2019. Sharif, who also spoke to IMF chief Kristalina Georgieva last month to revive the programme, told Anadolu that Pakistan has met the requirements the global lender asked for. “Some of those actions are usually …

Tax the wealthiest to avoid IMF, says Tunisia’s president
1 year, 6 months ago

Tax the wealthiest to avoid IMF, says Tunisia’s president

Al Jazeera  

Tunisia’s president is looking for ways to avoid a bailout package worth nearly $2bn, as talks stall over demands to restructure public bodies and lift subsidies on basic goods. Tunisia’s President Kais Saied has proposed taxing the country’s wealthiest citizens to avoid the “foreign diktats” of the International Monetary Fund. Despite reaching an agreement in principle last October on a …

IMF board approves $3 billion bailout for Ghana amid economic crisis
1 year, 7 months ago

IMF board approves $3 billion bailout for Ghana amid economic crisis

Associated Press  

LONDON — The International Monetary Fund’s executive board has approved a long-awaited $3 billion bailout for Ghana in hopes of combating the country’s economic crisis. “The combination of large external shocks and preexisting fiscal and debt vulnerabilities precipitated a deep economic and financial crisis in Ghana,” IMF Managing Director Kristalina Georgieva said in a statement. Georgieva said the Bank of …

IMF says inflation to slow growth across Mideast this year
1 year, 7 months ago

IMF says inflation to slow growth across Mideast this year

Associated Press  

DUBAI, United Arab Emirates — Economies across the Middle East and Central Asia will likely slow this year as persistently high inflation and rising interest rates bite into their post-pandemic gains, the International Monetary Fund said Wednesday. The regional slowdown also comes as an explosion of fighting in Sudan between two top rival generals — who only a year ago …

IMF wants Egypt to make reforms before bailout review: Report
1 year, 8 months ago

IMF wants Egypt to make reforms before bailout review: Report

Al Jazeera  

IMF wants Cairo to privatise state assets and allow flexibility in its currency, Bloomberg report says. The International Monetary Fund wants Egypt to enact more of the reforms that Cairo has committed to before it conducts the first review of the country’s $3bn rescue package, Bloomberg News has reported. The Washington-based lender wants Cairo to privatise certain state assets and …

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar
1 year, 8 months ago

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar

The Hindu  

Pakistan's Finance Minister Ishaq Dhar on April 4 announced that the UAE has approved $1 billion in financial support, taking the cash-strapped nation a step closer to unlocking the crucial IMF bailout. Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund, part of a $6.5 billion …

IMF: Prolonged high inflation dims outlook for world economy
1 year, 8 months ago

IMF: Prolonged high inflation dims outlook for world economy

Associated Press  

WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. The fund said the possibility of a “hard landing,” in which rising interest rates weaken growth so much as to cause a recession, has ”risen sharply,” especially …

IMF board approves $15.6bn Ukraine loan package
1 year, 8 months ago

IMF board approves $15.6bn Ukraine loan package

Al Jazeera  

Loan is part of a broader $115bn international support package to help the country meet urgent funding needs. It forms the IMF’s portion of a $115bn overall support package comprised of debt relief, grants and loans by multilateral and bilateral institutions, the organisation confirmed in a press conference Friday. The new four-year programme aims to “anchor macroeconomic and financial stability …

Explained | Understanding IMF bailouts
1 year, 8 months ago

Explained | Understanding IMF bailouts

The Hindu  

The story so far: The International Monetary Fund last week confirmed a $3 billion bailout plan for Sri Lanka’s struggling economy. IMF officials are also in negotiations with Pakistan for a $1.1 billion bailout plan as the country faces a severe economic crisis marked by a falling currency and price rise. Countries seek help from the IMF usually when their …

IMF sets another condition for crisis-hit Pakistan to revive loan
1 year, 8 months ago

IMF sets another condition for crisis-hit Pakistan to revive loan

Live Mint  

The International Monetary Fund and crisis-hit Pakistan are locked in a debate over an unfinished loan program required for the ongoing financial collapse. The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019 -- vital to Pakistan to avert defaulting on external payment obligations. IMF has now asked Islamabad to provide external financing assurances …

IMF bailout not a silver bullet for Sri Lanka, warns Moody's Analytics
1 year, 9 months ago

IMF bailout not a silver bullet for Sri Lanka, warns Moody's Analytics

Hindustan Times  

Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and global financial agencies, a senior economist at Moody's Analytics told Reuters on Tuesday. The International Monetary Fund said Monday that its executive board has approved a nearly $3 billion bailout program for Sri Lanka over four years to help salvage the country's bankrupt …

Apprehensions of Pakistan defaulting on debts ’over now’, says PM Sharif
1 year, 9 months ago

Apprehensions of Pakistan defaulting on debts ’over now’, says PM Sharif

Live Mint  

Apprehensions of a default by Pakistan on debt obligations are "over now", the country's Prime Minister Shehbaz Sharif said on Wednesday, adding that a staff-level agreement with the International Monetary Fund "will be done soon". PM Sharif has said that the staff-level agreement with the IMF will be reached "within a few days" as the cash-strapped government has accepted even …

Pakistan in more trouble as IMF imposes new condition for financial bailout
1 year, 9 months ago

Pakistan in more trouble as IMF imposes new condition for financial bailout

Firstpost  

In its quest for the IMF bailout, the Pakistan government has come up with several measures. Pakistan’s finance ministry had also informed that the Industrial and Commercial Bank of China Ltd is set to forward a loan of $1.3 billion Islamabad: The already crisis-hit Pakistan economy is in for more problems as the International Monetary Fund has imposed yet another …

IMF eases rules for members to beat crisis but still no help for Pakistan
1 year, 9 months ago

IMF eases rules for members to beat crisis but still no help for Pakistan

Live Mint  

While the International Monetary Fund will temporarily increase funding limits for member nations to help them overcome current financial challenges, at the same time, it is still locked over an unfinished loan program required for the ongoing economic crisis. Earlier on 4 March, Finance Minister Ishaq Dar said that the country is set to receive a $1.3 billion financing boost …

Pakistan govt raises policy interest rate by 200 bps for IMF bailout
1 year, 9 months ago

Pakistan govt raises policy interest rate by 200 bps for IMF bailout

Live Mint  

Pakistan's government has agreed to increase the policy interest rate by 2% or 200 basis points to meet another condition set by the International Monetary Fund to unlock USD 1.1 billion of the bailout package. Amid an unprecedented economic crisis in the country, Pakistan Prime Minister Shehbaz Sharif instructed the Ministry of Foreign Affairs to cut the number of foreign …

‘We have to unwillingly accept strict conditions of IMF deal’: Pakistan PM
1 year, 9 months ago

‘We have to unwillingly accept strict conditions of IMF deal’: Pakistan PM

Live Mint  

Pakistan Prime Minister Shehbaz Sharif on Friday said that the crisis-hit country has to ‘unwillingly’ accept the strict conditions of the IMF deal to provide a lifeline for an economy in turmoil. “We have to accept unwillingly the strict conditions for the IMF deal. The South Asian country's economy has been in turmoil and desperately needs external financing, with its …

BIG BLOW to Pakistan! IMF delays much-sought-after bailout package for cash-strapped nation
1 year, 10 months ago

BIG BLOW to Pakistan! IMF delays much-sought-after bailout package for cash-strapped nation

India TV News  

Pakistan bailout package: Adding further woes to cash-strapped Pakistan, the International Monetary Fund has delayed the signing of the coveted bailout package for Islamabad. From January 31 to February 9, an IMF mission led by Nathan Porter visited Islamabad to hold discussions under the ninth review of the authorities’ programme supported by the IMF Extended Fund Facility arrangement. Porter said …

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