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

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

India TV News  

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report During Prime Minister Shehbaz Sharif’s recent visit to Beijing, the Chinese leadership promised to roll over USD 4 billion in sovereign loans, refinance USD 3.3 billion commercial bank loans and increase currency swap by about USD 1.45 billion — from 30 billion yuan to 40 billion yuan. Cash-strapped Pakistan has secured about USD 13 billion in additional financial support from its traditional allies China and Saudi Arabia, Finance Minister Ishaq Dar has said, as the government tries to steady the country's weak economy. He said that during Prime Minister Shehbaz Sharif’s recent visit to Beijing, the Chinese leadership promised to roll over USD 4 billion in sovereign loans, refinance USD 3.3 billion commercial bank loans and increase currency swap by about USD 1.45 billion — from 30 billion yuan to 40 billion yuan. Dar said Saudi Arabia had also agreed to revive the USD 10-12 billion petrochemical refining project at Gwadar, for which he had been assigned by the prime minister to coordinate with respective ministries for finalisation.

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History of this topic

IMF approves $1.3 billion loan for Pakistan, frees first tranche of bailout package
1 day, 11 hours ago

IMF approves $1.3 billion loan for Pakistan, frees first tranche of bailout package

The Hindu  

The International Monetary Fund approved a loan of USD 1.3 billion for Pakistan to address climate change while also reaching a staff-level agreement on the first review of the already agreed USD 7 billion loan. "The IMF team has reached a staff-level agreement with the Pakistani authorities on the first review of the 37-month extended arrangement under the Extended Fund …

IMF approves $1.3 billion loan to Pakistan, with conditions to reduce debt
Trending News
1 day, 18 hours ago

IMF approves $1.3 billion loan to Pakistan, with conditions to reduce debt

Firstpost  

The new 28-month deal would support Pakistan’s efforts to mitigate and adapt to climate change, the International Monetary Fund said in a statement announcing its decision The IMF said Tuesday it has reached agreement with Pakistan on a new $1.3 billion loan program and reviewed an existing bailout that would, if approved, unlock an additional $1 billion. The new 28-month …

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

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

Firstpost  

The World Bank’s private finance division has slammed Pakistan’s military-led efforts to renegotiate contracts for wind and solar power, in a letter co-signed by seven other international development organisations that have funded projects in the country, according to a report Pakistan's national flag at the Mausoleum of Muhammad Ali Jinnah in Karachi, Pakistan on August 14, 2022. Reuters File The …

Pakistan Urges China To Reschedule Debt Worth $3.4 Billion Again: Report
1 month, 2 weeks ago

Pakistan Urges China To Reschedule Debt Worth $3.4 Billion Again: Report

ABP News  

Pakistan has reportedly requested China to reschedule the $3.4 billion debt for two years, The Express Tribune reported on Saturday. The Pakistani media agency citing official sources said that the officials requested the Export-Import Bank of China to reschedule the arrangement of its loans from October 2024 to September 2027. According to the IMF norms, Pakistan is required to find …

Pakistan to defer $1.2bn oil payment to Saudi to boost forex reserve ahead of IMF review
Trending News
1 month, 3 weeks ago

Pakistan to defer $1.2bn oil payment to Saudi to boost forex reserve ahead of IMF review

Firstpost  

Prime Minister Shehbaz welcomed the signing of the oil import financing facility, the Prime Minister’s Office said in a statement, adding that Pakistan will receive the oil on deferred payment for one year Pakistan government signed an agreement with the Saudi Fund for Development to defer by one year a $1.2 billion payment on oil imports. These agreements include “Deferred …

Pakistan signs agreement to defer USD 1.2bn payment for Saudi oil
1 month, 3 weeks ago

Pakistan signs agreement to defer USD 1.2bn payment for Saudi oil

Live Mint  

Islamabad, Feb 4 Pakistan government signed an agreement with the Saudi Fund for Development to defer by one year a USD 1.2 billion payment on oil imports. These agreements include "Deferred Payment for Oil Import from Saudi Arabia" worth USD 1.2 billion for one year and "Construction of Gravity Flow Water Supply Scheme" at Mansehra amounting to USD 41 million. …

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister
1 month, 3 weeks ago

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister

Live Mint  

Islamabad, Jan 30 A minister said Pakistan cannot afford the risk of exiting the International Monetary Fund programme with USD 100 billion in external financing requirements in the short to medium term. "We have a narrow path from short to medium term due to USD 100 billion gross external financing needs and cannot be adventurous," Minister of State for Finance …

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

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

Firstpost  

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

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts
2 months, 1 week ago

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts

Firstpost  

Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state bank of Pakistan for another year, according to a report Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state …

What are Panda bonds that Pakistan is banking on to raise money?
2 months, 1 week ago

What are Panda bonds that Pakistan is banking on to raise money?

Firstpost  

Struggling to keep its economy running, Pakistan now is planning to issue yuan-denominated Panda bonds soon. Pakistan has said it has been working to issue Chinese currency yuan-denominated Panda bonds this year to shore up its finances. Pakistan plans to raise $250mn from Chinese investors Through the Panda bonds, Pakistan aims to raise $200 to $250 million from Chinese investors …

With economy in freefall, Pakistan’s global standing hits a new low
4 months ago

With economy in freefall, Pakistan’s global standing hits a new low

Firstpost  

Pakistan is a plutocracy—a government controlled by the wealthy and privileged. Pakistan’s terrorist connections, economic crisis, and political instability have all led to the Pakistani passport now being one of the least ‘powerful’ in the world. Banks: Pakistan owes $11.7 billion to banks in Saudi Arabia, the United Arab Emirates, and China’s State Administration of Foreign Exchange. Pakistani media sources …

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report
4 months, 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
4 months, 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
5 months ago

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes

Live Mint  

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

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

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

Live Mint  

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

Pakistan to receive yet another loan from the IMF, $7 billion this time
8 months, 2 weeks 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 billion loan deal with IMF
8 months, 2 weeks ago

Pakistan reaches new $7 billion loan deal with IMF

Associated Press  

Pakistan has reached a staff-level agreement for a new $7 billion loan deal, the International Monetary Fund said Friday, the country’s latest turn to the global lender for help in propping up its economy and dealing with its debts through big bailouts. “The program aims to capitalize on the hard-won macroeconomic stability achieved over the past year by furthering efforts …

China's foreign exchange reserves total $3.2224t
8 months, 2 weeks ago

China's foreign exchange reserves total $3.2224t

China Daily  

Xinhua | Updated: 2024-07-08 10:11 BEIJING - China's foreign exchange reserves stood at $3.2224 trillion at the end of June 2024, official data showed Sunday. The amount shrank by 0.3 percent compared with the previous month, the State Administration of Foreign Exchange said, attributing the decrease to the combined impact of currency translation and asset price changes. The Chinese economy …

Can Pakistan’s allies help revive its economy through investment dollars?
9 months, 1 week ago

Can Pakistan’s allies help revive its economy through investment dollars?

Al Jazeera  

Pakistani PM Shehbaz Sharif visited China, Saudi Arabia and the UAE recently searching for investments. Islamabad, Pakistan — In a series of trips over the past three months, Pakistan Prime Minister Shehbaz Sharif has tried to convince the debt-strapped country’s three closest allies — China, Saudi Arabia and the United Arab Emirates — to invest in the nation, as its …

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad
10 months, 2 weeks ago

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad

Hindustan Times  

Islamabad, The IMF has said that Pakistan faces major debt-repayment challenges and expressed serious doubts over the cash-strapped country's capacity to repay the global lender, according to a media report on Saturday. IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad The Washington-based bank's assessment of Pakistan's economy came as an IMF support team reached the country …

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
10 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 disbursal of $1.1 billion loan tranche to cash-strapped Pakistan
10 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
11 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 {{ …

Foreign exchange reserves reach highest in 2 yrs
11 months, 2 weeks ago

Foreign exchange reserves reach highest in 2 yrs

China Daily  

A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. China's foreign exchange reserves reached the highest level in more than two years, standing at $3.2457 trillion as of the end of March, while gold reserves increased for the 17th consecutive month, the State Administration of Foreign Exchange said on Sunday. The …

Pakistan can’t survive without another IMF assistance, says PM Shehbaz Sharif
1 year 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 …

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

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

Firstpost  

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

Cash-strapped Pakistan will need more IMF loans, says finance minister
1 year, 4 months 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 team to visit Pakistan next week to hold review talks
1 year, 5 months 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’s Military is Targeting Smugglers and Hoarders
1 year, 5 months ago

Pakistan’s Military is Targeting Smugglers and Hoarders

The Diplomat  

In a surprising turn of events, Pakistan’s currency experienced a significant strengthening against the U.S. dollar in September. This has significant implications for various policy changes, including those related to the State Bank of Pakistan’s efforts to regulate exchange firms and combat the black market in currencies. The State Bank’s attempts to implement stricter regulations and eradicate illicit currency hoarding …

Pakistan seeks $11 billion aid from China, Saudi Arabia to keep IMF bailout programme on track: Report
1 year, 5 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, 6 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, 7 months ago

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China

The Hindu  

Published : Aug 10, 2023 11:00 IST - 6 MINS READ On July 14, the shaky government of a debt-stressed Pakistan won itself a surprising reprieve from the IMF. Pakistan’s government has also succeeded in getting fund flows from “friendly” nations—$3.7 billion from bilateral partners such as Saudi Arabia and the UAE—and a roll-over of around $4 billion in loan …

Pakistan granted rollover on $2.4bn Chinese loan: minister
1 year, 8 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, 8 months ago

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years

News 18  

China has rolled over a USD 2.4 billion loan to its all-weather ally Pakistan for two years to help the cash-strapped country shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Thursday. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal …

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 8 months ago

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

Associated Press  

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

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

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans

India TV News  

Stressing that Pakistan needs to end dependence on foreign loans for sustaining its dilapidated economy, the country's Chief of Army Staff General Syed Asim Munir remarked that "all Pakistanis must throw out the begging bowl", reported Geo News. Pakistan Prime Minister Shehbaz Sharif announced that the cash-strapped country will receive $600 million from Beijing amid a swelling debt and low …

Pakistan has to repay $2.44 billion of external debt in July 2023
1 year, 8 months ago

Pakistan has to repay $2.44 billion of external debt in July 2023

Live Mint  

Pakistan's crippling economy is sitting on a large pile of debt taken from international organisations and countries like China. The debt also includes $2.44 billion for the current month of July 2023 owed to China, reports ANI quoting the NEws International. This means that Pakistan and China are currently working on the rollover of around USD 3 billion bilateral debt …

China agrees to reschedule $2 billion debt of Pakistan
1 year, 8 months ago

China agrees to reschedule $2 billion debt of Pakistan

The Hindu  

China has agreed to reschedule more than $2 billion debt of Pakistan for a period of two years, providing a major relief to the cash-starved country, which is in the process of rebuilding foreign exchange reserves through fresh loans. The $6.5 billion is a publicly guaranteed debt, and more than $2 billion repayments were maturing in two years that China …

Pakistan’s forex reserves double to $8.73 billion
1 year, 8 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 …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 8 months ago

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF

India Today  

An assessment from the International Monetary Fund has said that Pakistan's economic challenges were complex and multifaceted and risks were exceptionally high, The Dawn reported. “Resolving Pakistan's structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current programme period,” the Fund said in a report. “A possible successor arrangement could help anchor the policy …

Pakistan gets another $600 million loan from China: PM Shehbaz
1 year, 8 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 …

The Dubious Role of a Pakistani Army Chief in Securing a Saudi Loan
1 year, 8 months ago

The Dubious Role of a Pakistani Army Chief in Securing a Saudi Loan

The Quint  

The latest statement of the Pakistani finance minister acknowledging the gratitude of its Army Chief towards the Saudi aid of USD 2 billion has a history and context beyond the officialese of co-religiosity, and other niceties. Besides the element of religiosity, the frequent grant of financial aid and the sizeable quantum of foreign exchange repatriation by the Pakistani migrant workforce …

Pakistan lost $8.3 bn in remittances, exports in FY23 amid IMF bailout bid
1 year, 8 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, 8 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, 8 months ago

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF

News 18  

The International Monetary Fund on Wednesday announced that it has approved a USD 3 billion loan agreement for Pakistan, unlocking crucial funding for the cash-strapped economy. In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilization program.” This follows a staff-level agreement between the fund and …

IMF approves much-awaited $3bn bailout for Pakistan
1 year, 8 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, 8 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, 8 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

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