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 as allies orchestrated a military coup that upended the African country’s transition to democracy — threatens a nation where IMF and World Bank debt relief remains on hold. “This year we’re seeing inflation again being the most challenging issue for most of the countries,” Jihad Azour, the director of the Middle East and Central Asia Department at the IMF, told The Associated Press. “For those who have high level of debt, the challenge of increase in interest rate globally, as well as also the tightening of monetary policy, is affecting them.” The IMF forecast predicts regional growth will drop from 5.3% last year to 3.1% this year.

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History of this topic

Pakistan blames IMF for record inflation, erosion in purchasing power
1 week, 5 days ago

Pakistan blames IMF for record inflation, erosion in purchasing power

Firstpost  

Under the IMF programme, Pakistan recorded 840% increase in gas prices, 110% rise in electricity rates, and 43% currency depreciation, according to Finance Minister Muhammad Aurangzeb Cash-strapped Pakistan has turned to the IMF yet again to rescue its ailing economy. Pakistani Finance Minister Muhammad Aurangzeb said on Wednesday that the country recoded 840 per cent increase in gas prices, 110 …

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report
1 month, 2 weeks 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 economy grows faster than expected buoyed by IMF loan, lower rates
2 months, 3 weeks ago

Pakistan economy grows faster than expected buoyed by IMF loan, lower rates

Hindustan Times  

Pakistan’s economy grew faster than expected last quarter as funds from the International Monetary Fund and lower interest rates buoyed activity. Pakistan's GDP rose 3.07% in the last quarter, aided by IMF funds and lower borrowing costs. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Gross domestic product rose 3.07% in the three months to June from a year ago, the Pakistan Bureau of …

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, 2 weeks 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 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 …

IMF team in Pakistan as doubts cloud debt-repayment
7 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 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 …

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 …

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 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 …

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 …

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks
1 year, 2 months ago

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks

Associated Press  

DUBAI, United Arab Emirates — Middle East economies are gradually recovering as external shocks from the war in Ukraine and global inflation fade, the International Monetary Fund said Thursday, but the escalating war between Israel and the Hamas militant group could dampen the outlook. The IMF expects economic growth to slow to 2% this year in the Middle East and …

IMF projects faster economic growth for Pakistan; sets growth rate at 2.5 per cent for 2023
1 year, 2 months ago

IMF projects faster economic growth for Pakistan; sets growth rate at 2.5 per cent for 2023

Firstpost  

The International Monetary Fund’s World Economic Outlook for October, released on Tuesday, forecasts a growth of 2.5 per cent for the country’s economy in the current year, doubling to 5 per cent in the next fiscal year The IMF expects Pakistan’s economy to perform better in the current and next fiscal years compared to other multilateral agencies’ projections despite the …

Amid Israel-Hamas conflict, IMF outlook worsens for a 'limping' world economy
1 year, 2 months ago

Amid Israel-Hamas conflict, IMF outlook worsens for a 'limping' world economy

Hindustan Times  

The world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, International Monetary Fund warned Tuesday. “The global economy is limping along, not sprinting," IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the …

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 …

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 …

‘Exceptionally high’ economic risks in Pakistan, IMF report says
1 year, 5 months ago

‘Exceptionally high’ economic risks in Pakistan, IMF report says

Al Jazeera  

Lender says a week after approving a $3bn bailout package for Pakistan that ‘significant shocks’ have rocked its economy. Islamabad, Pakistan – The International Monetary Fund says Pakistan’s economic challenges are “complex and multifaceted” and the risks are “exceptionally high”. In a report released on Tuesday, the global lender said Pakistan’s economy had been rocked by “significant shocks” over the …

Will Pakistan’s IMF agreement save its economy?
1 year, 5 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, 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 …

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 …

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 inflation eases for the first time in seven months
1 year, 5 months ago

Pakistan inflation eases for the first time in seven months

Al Jazeera  

Government figures show year-on-year inflation at 29.4 percent, compared with a record 38 percent in May. Pakistan’s headline inflation eased for the first time in seven months in June, figures show – a bright spot for a beleaguered government that must call an election this year. Year-on-year inflation was 29.4 percent last month, Pakistan Bureau of Statistics data showed on …

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 seals $3 Billion lifeline: IMF deal offers hope for economic resurgence
1 year, 5 months ago

Pakistan seals $3 Billion lifeline: IMF deal offers hope for economic resurgence

Live Mint  

Cash-strapped Pakistan has reached a staff-level agreement with the Washington-based financial body International Monetary Fund for a crucial bailout package that could lift the South Asian nation out of the economic crisis. The country has got temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the IMF in Washington on Thursday, according …

Pakistan-IMF deal finalized! Staff-level agreement likely today, says FM Dar
1 year, 5 months ago

Pakistan-IMF deal finalized! Staff-level agreement likely today, says FM Dar

Live Mint  

Pakistan Finance Minister Ishaq Dar has said that a staff-level agreement for a crucial bailout deal with the International Monetary Fund is very close and expected in the next 24 hours, according to a report published by Dawn, a Pakistani English newspaper. With the bailout program set to expire on June 30, Pakistan has also revised its budget for the …

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 …

IMF puts fresh condition on crisis-hit Pakistan to revive loan
1 year, 5 months ago

IMF puts fresh condition on crisis-hit Pakistan to revive loan

Live Mint  

The International Monetary Fund has asked cash-strapped Pakistan to revise the budgetary framework for 2023-24 before its passage from the parliament in order to strike a staff-level agreement, according to a report published by The News International, an English-language newspaper in the crisis-hit country. Pakistan and the IMF are making efforts to evolve a broader agreement on the budgetary framework …

Pakistan PM Sharif requests IMF release $1.1bn tranche
1 year, 6 months ago

Pakistan PM Sharif requests IMF release $1.1bn tranche

Al Jazeera  

Islamabad, Pakistan – The government of Pakistan has made yet another appeal to the International Monetary Fund to release the $1.1bn tranche, pending since November last year, as the $6.5bn loan programme nears its scheduled expiry at the end of June. Sharif, who is in France to attend the Summit for a New Global Financial Pact, expressed his hope that …

Pakistan Finance Minister Ishaq Dar blames geopolitics for stalled IMF loan; vows against default
1 year, 6 months ago

Pakistan Finance Minister Ishaq Dar blames geopolitics for stalled IMF loan; vows against default

The Hindu  

Pakistan’s Finance Minister Ishaq Dar has blamed geopolitics for a stalled International Monetary Fund loan package and said that global institutions wanted the cash-strapped country to default like Sri Lanka and then take part in the negotiations. Mr. Dar said that no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been …

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system
1 year, 6 months ago

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

Associated Press  

ISLAMABAD — The International Monetary Fund slammed Pakistan’s government on Thursday over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft. The harsh criticism by Esther Perez Ruiz, IMF’s representative for Pakistan, raised new concerns about the success of monthslong talks between the cash-strapped Islamic nation and the lender …

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms
1 year, 6 months ago

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms

Al Jazeera  

Global lender expresses dissatisfaction with recently presented budget only two weeks before the bailout programme expires. The International Monetary Fund has expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. With time for only one last IMF board review before the end of the $6.5bn …

Crisis-hit Pakistan set to present budget as IMF watches
1 year, 6 months ago

Crisis-hit Pakistan set to present budget as IMF watches

Al Jazeera  

Pakistan hopes the budget will help unlock more than $2.5bn left in a $6.5bn IMF bailout programme expiring this month. “The focus of discussions over the FY24 budget is to balance the need to strengthen debt sustainability prospects while creating space to increase social spending,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. This month, the World Bank …

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 …

Pakistan inflation hits record for second consecutive month
1 year, 6 months ago

Pakistan inflation hits record for second consecutive month

Al Jazeera  

The country’s year-on-year inflation rises to record 37.97 percent as crucial IMF bailout talks remain in limbo. Pakistan’s annual inflation rate has risen to 37.97 percent in May, the statistics bureau said, setting a national record for the second month in a row. The bureau’s announcement on Thursday worsens the economic crisis in the South Asian country as crucial bailout …

Resolve political disputes in line with 'Constitution and rule of law': IMF tells Pakistan
1 year, 6 months ago

Resolve political disputes in line with 'Constitution and rule of law': IMF tells Pakistan

The Hindu  

In an unusual move, the IMF on May 30 urged Pakistan to resolve its political disputes in line with the "Constitution and rule of law." The remarks by IMF Mission Chief to Pakistan Nathan Porter came after Prime Minister Shehbaz Sharif contacted the chief of the Washington-based lender to revive the much-awaited $6.5 billion bailout package in a last-ditch effort …

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