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 adjustment needed to restore Pakistan's medium-term viability and capacity to repay,” the report said. Meanwhile, cash-strapped Pakistan has received a rollover of an additional USD 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.

Pakistan Report Imf Dawn  dawn  facing  report  external  billion  pakistans  risks  economic  mount  debt  fund  pakistan  exceptionally  bailout  support  high  imf

History of this topic

Pakistan blames IMF for record inflation, erosion in purchasing power
1 week, 4 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 approves third review of Sri Lanka’s $2.9bn bailout, but warns of risks
1 month ago

IMF approves third review of Sri Lanka’s $2.9bn bailout, but warns of risks

Al Jazeera  

Global lender says it will release about $333m to crisis-hit nation as signs of economic recovery emerge. The International Monetary Fund has approved the third review of Sri Lanka’s $2.9bn bailout but warned that the South Asian island nation’s economy remains vulnerable. Sri Lanka still needs to complete a $12.5bn bondholder debt restructuring and a $10bn debt rework with bilateral …

The IMF has a protest problem
1 month, 1 week ago

The IMF has a protest problem

Live Mint  

It has been a tumultuous few months for the International Monetary Fund’s borrowers. In June protests brought thousands onto the streets in Kenya after William Ruto, the president, laid out the spending cuts required to convince the IMF to disburse the latest instalment of the country’s $3bn bail-out. Two months later, Sheikh Hasina, prime minister of Bangladesh, which also has …

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's Skilled Workforce Exodus: A Crisis of Economic Indifference
Trending News
1 month, 3 weeks ago

Pakistan's Skilled Workforce Exodus: A Crisis of Economic Indifference

Firstpost  

Pakistan's emigration phenomenon is a major concern, with the country facing a severe brain drain. Skilled workers are leaving the country in search of better opportunities abroad, leading to a significant decline in the country's workforce and economic growth. The country's economic struggles, political instability, and soaring consumer prices have contributed to this exodus. The government needs to address the …

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 …

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 …

Rajnath Singh says ‘India would’ve given larger bailout package to Pakistan if…'
2 months, 3 weeks ago

Rajnath Singh says ‘India would’ve given larger bailout package to Pakistan if…'

Hindustan Times  

Defence minister Rajnath Singh on Sunday said that India would have given a larger bailout package to Pakistan than the one sought by the neighbour from International Monetary Fund, had Islamabad maintained friendly relations with New Delhi. The amount is much bigger than what Pakistan was seeking from the IMF," PTI quoted Rajnath as saying at an election rally in …

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 …

Pakistan's 24th IMF bailout: Time for Army to get back to barracks, quit anti-India intrigue
3 months, 1 week ago

Pakistan's 24th IMF bailout: Time for Army to get back to barracks, quit anti-India intrigue

Firstpost  

Since independence, the Pakistan Army has persistently built the narrative that it is the ultimate saviour of Pakistan from the eternal enemy, India. The people fed with this narrative have been willing to accept the Army’s role in the economic and business life of the country The Pakistan government has heaved a collective sigh of relief for the International Monetary …

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 …

It Can Cost More to Power a House Than Rent It in Pakistan
4 months, 1 week 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 …

Financial strain grips Pakistan, 74% struggle to make ends meet, 10% doing two jobs: Report
4 months, 1 week ago

Financial strain grips Pakistan, 74% struggle to make ends meet, 10% doing two jobs: Report

Live Mint  

A new study highlights the deepening economic crisis in Pakistan as financial hardship escalates among urban households. The study, which surveyed over 1,110 respondents across Pakistan's 11 largest cities between July and August, paints a grim picture of the country's economic landscape. However, a report last month revealed that government borrowings in the first 11 months of the outgoing fiscal …

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 Wants China to ‘Reprofile’ Debt to Help Support Reforms
4 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 …

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

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

Firstpost  

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

Pakistan to receive yet another loan from the IMF, $7 billion this time
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 President Zardari gives his assent to tax-laden Finance Bill criticised by opposition
5 months, 3 weeks ago

Pakistan President Zardari gives his assent to tax-laden Finance Bill criticised by opposition

The Hindu  

Pakistan President Asif Ali Zardari on June 30 gave his assent to the government’s tax-heavy Finance Bill 2024, which drew sharp criticism from the Opposition which labelled it as an IMF-driven document that was harmful to the public for the new fiscal year, according to a media report. Finance Minister Muhammad Aurangzeb presented the Budget in the National Assembly on …

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’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

Associated Press  

ISLAMABAD — Pakistan’s new coalition government presented its first budget in parliament on Wednesday, promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target while talks with the International Monetary Fund about a new bailout continue. Analysts say the new budget of about $68 billion — up from $50 billion …

Pakistan PM Shehbaz Sharif's office says UAE has committed $10 bln in investments
7 months ago

Pakistan PM Shehbaz Sharif's office says UAE has committed $10 bln in investments

Hindustan Times  

The United Arab Emirates on Thursday committed $10 billion to invest in promising economic sectors in Pakistan, Islamabad said. The investment pledge came after a meeting between Pakistani Prime Minister Shehbaz Sharif, on a two day visit to the UAE, met President Sheikh Mohamed bin Zayed Al Nahyan. The investment pledge, also announced by the Emirati state news agency, came …

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 …

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 …

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

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

The Hindu  

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

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

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

Hindustan Times  

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

IMF 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 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 …

Debt, fiscal challenges facing low-income countries worry IMF
8 months ago

Debt, fiscal challenges facing low-income countries worry IMF

The Hindu  

Shareholders of the International Monetary Fund agreed on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on April 19. Impact of high debt levels on low-income countries Ms. Georgieva, in a meeting of the Global Sovereign Debt Roundtable hosted by the IMF and the World …

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 {{ …

With 25% inflation, Pakistan has the highest cost of living in Asia: ADB
8 months, 1 week ago

With 25% inflation, Pakistan has the highest cost of living in Asia: ADB

The Hindu  

Pakistan has the highest living cost in all of Asia with a 25% inflation rate and its economy may grow at the fourth lowest pace of 1.9% in the region, according to a new Asian Development Bank report. The Manila-based lending agency stated that the inflation rate in Pakistan is expected to be 25% in the current fiscal year -- …

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 PM Shehbaz Sharif calls for another loan from IMF
8 months, 3 weeks ago

Pakistan PM Shehbaz Sharif calls for another loan from IMF

Firstpost  

The Prime Minister stated that the FBR will undergo a complete restructuring in relation to tax reforms. He mentioned that we would need to increase the tax base in light of the low tax to GDP ratio According to Shehbaz Sharif, the federal government will work with the provincial governments to solve issues and create favorable conditions for the private …

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 …

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 …

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 …

Shehbaz Sharif becomes Pakistan’s premier as opponents in parliament allege rigging
9 months, 3 weeks ago

Shehbaz Sharif becomes Pakistan’s premier as opponents in parliament allege rigging

LA Times  

Pakistan’s newly elected Prime Minister Shehbaz Sharif, right, is congratulated by his elder brother, former Prime Minister Nawaz Sharif at a parliament session Sunday in Islamabad. Lawmakers in Pakistan’s National Assembly on Sunday elected Shehbaz Sharif as the country’s new prime minister for the second time as allies of imprisoned former premier Imran Khan in parliament shouted in protest, alleging …

Imran Khan asks IMF not to extend loan to Pakistan before election audit
9 months, 4 weeks ago

Imran Khan asks IMF not to extend loan to Pakistan before election audit

Hindustan Times  

Pakistan Tehreek-e-Insaf leader Imran Khan on Friday confirmed that he wrote a letter to the IMF, asking it to hold an audit of election results in Pakistan before approving any new loan for Islamabad. Imran Khan said that the loan would add to the country's debt and lead to more poverty. Khan's confirmation came after PTI senator Ali Zafar said …

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’s election: Can the next government bring economic stability?
10 months, 2 weeks ago

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

Al Jazeera  

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

In Pakistan, old hopefuls jostle to turn around struggling economy
10 months, 2 weeks ago

In Pakistan, old hopefuls jostle to turn around struggling economy

Al Jazeera  

Pakistani voters head to the polls on Thursday amid a deep-seated economic crisis. Inflation, which reached nearly 30 percent in December, has been climbing since the start of last year after Pakistan’s central bank agreed to liberalise its exchange rate as part of a pre-existing IMF programme. “This will lower Pakistan’s current account deficit as goods from abroad will become …

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 …

Discover Related