Pakistan finance secretary sees IMF staff level talks wrapping up this week
1 year, 10 months ago

Pakistan finance secretary sees IMF staff level talks wrapping up this week

Live Mint  

Pakistan expects to conclude talks with the International Monetary Fund over a staff level agreement as soon as this week, the country's finance secretary said, in a crucial step towards unlocking funds to battle an economic crisis. An IMF mission spent more than a week in Islamabad earlier this month to discuss a policy framework to allow the release of more than $1 billion in funding from a stalled $6.5 billion bailout package, originally approved in 2019. The staff level agreement would need approval from the IMF's board before the funds can be released. Other measures that still need to be taken to finalise the agreement include raising interest rates, which already stand at 17%, as well as obtaining commitments for more bilateral and multilateral funding, officials say.

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History of this topic

Pakistan’s $7 billion IMF deal has run into trouble. Here’s what happens next
1 month, 1 week ago

Pakistan’s $7 billion IMF deal has run into trouble. Here’s what happens next

Firstpost  

The chief of the Pakistan mission of the International Monetary Fund, which had agreed to a $7 billion funding agreement for the Pakistan in September, on Tuesday opened unscheduled talks with the country’s top officials, including the finance minister and governor of the State Bank of Pakistan. The International Monetary Fund’s Pakistan mission chief Nathan Porter met Finance Minister Muhammad …

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 …

IMF approves a $7 billion loan for Pakistan, $1 billion given immediately
2 months, 4 weeks ago

IMF approves a $7 billion loan for Pakistan, $1 billion given immediately

Hindustan Times  

The executive board of the International Monetary Fund has approved a new $7 billion loan for cash-strapped Pakistan, authorities said Wednesday, more than two months after the two sides said they had reached an agreement. “Spending on health and education has been insufficient to tackle persistent poverty, and inadequate infrastructure investment has limited economic potential and left Pakistan vulnerable to …

Is Pakistan’s $7bn IMF bailout package in trouble?
3 months, 1 week ago

Is Pakistan’s $7bn IMF bailout package in trouble?

Al Jazeera  

Pakistan’s deputy prime minister has accused the IMF of stalling on a loan deal, prompting concerns over its fate. Earlier this week, Pakistan’s Deputy Prime Minister Ishaq Dar accused the IMF of “deliberately delaying” the release of funds. Pakistan eventually narrowly avoided default when Shehbaz Sharif, in his first stint as prime minister, managed to secure a new, nine-month long …

Should Pakistan Celebrate the New IMF Deal?
4 months ago

Should Pakistan Celebrate the New IMF Deal?

The Diplomat  

In July, the International Monetary Fund and Pakistan reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement of about $7 billion. Following the confirmation of the new agreement with the IMF, Pakistan’s Prime Minister Shehbaz Sharif visited the Federal Bureau of Revenue headquarters and urged its officials to make utmost efforts to broaden the tax base. However, this …

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 …

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  

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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, 2 weeks ago

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

The Hindu  

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

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
7 months, 3 weeks ago

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan

Deccan Chronicle  

Washington/Islamabad: The IMF has approved an immediate disbursal of the final tranche of USD 1.1 billion to Pakistan as part of a bailout package, emphasising that the cash-strapped country needs to take tough measures to bring its economy back on track. The International Monetary Fund Executive Board's decision on Monday came after the global lender completed the second and final …

IMF 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 promises Pakistan ‘immediate’ release of $1.1bn loan after key meet
7 months, 3 weeks ago

IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet

Al Jazeera  

Pakistan seeks another long-term IMF programme to support its ailing economy but experts say the focus must be on reforms. Islamabad, Pakistan – Cash-strapped Pakistan is poised to receive a $1.1bn loan tranche from the International Monetary Fund after a key meeting of the international lender’s executive board on Monday, even as economists have warned that the country needs deep …

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

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

India TV News  

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

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

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

The Independent  

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Pakistan PM Shehbaz Sharif calls for another loan from IMF
8 months, 4 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 …

Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package
9 months ago

Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package

Al Jazeera  

The funds are the final tranche of a $3bn programme agreed upon last year to avert a default, as Islamabad seeks another long-term bailout. “The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF said in a statement on Wednesday. The IMF said Pakistan’s “economic and …

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package
9 months ago

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package

India TV News  

Washington: The International Monetary Fund on Wednesday announced that it has reached a staff-level agreement with cash-strapped Pakistan for the release of $1.1 billion tranche, the last of the $3 billion financial bailout package, as the global moneylender noted that Pakistan's inflation was above target and economic growth remained modest, reported the Express Tribune. “The IMF team has reached a …

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout
9 months, 1 week ago

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout

Associated Press  

ISLAMABAD — The International Monetary Fund will hold a crucial round of talks with Pakistan’s newly elected government this week to determine whether the country has met conditions for receiving the much needed final $1.1 billion tranche of a $3 billion bailout, officials said Wednesday. Pakistan is likely to get the final installment of $1.1 billion from the IMF under …

Pakistan's new finance minister Muhammad Aurangzeb is an ex-JPMorgan banker: All you need to know
9 months, 1 week ago

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

Hindustan Times  

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

Pakistan PM Shehbaz Sharif seeks ‘immediate’ talks with IMF amid economic crisis
9 months, 2 weeks ago

Pakistan PM Shehbaz Sharif seeks ‘immediate’ talks with IMF amid economic crisis

Firstpost  

Under the terms of the current USD 3 billion Stand-by Arrangement, which was agreed to in June of last year when Pakistan was gradually heading towards default, Pakistan got about USD 700 million in January from the International Monetary Fund Shehbaz Sharif was sworn in on Monday as Pakistan's 24th Prime Minister, taking over the reins of the cash-strapped country …

Imran Khan asks IMF not to extend loan to Pakistan before election audit
10 months 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’ …

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 will need more IMF loans, says finance minister
1 year, 1 month ago

Cash-strapped Pakistan will need more IMF loans, says finance minister

Firstpost  

Cash-strapped Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet. Akhtar said her priority was to immediately start working on the last USD 1.1 billion tranche under the …

Pakistan and IMF reach deal for releasing $700m from $3bn bailout package
1 year, 1 month ago

Pakistan and IMF reach deal for releasing $700m from $3bn bailout package

Al Jazeera  

The much-awaited deal with the global lender is meant to save the cash-strapped country from default. Islamabad, Pakistan – Pakistan and the International Monetary Fund have reached a preliminary deal for the release of $700m from a $3bn bailout package after two weeks of talks with the global lender. The IMF on Wednesday said it reached a staff-level agreement with …

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

IMF team to visit Pakistan next week to hold review talks

Firstpost  

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

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 …

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

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

The Hindu  

Cash-strapped Pakistan is seeking around $11 billion from China and Saudi Arabia as part of efforts to fill external- and domestic resource gaps so that the International Monetary Fund bailout programme remains on track to ensure economic stability until an elected government is formed in the country, according to a media report on September 29. Pakistan Government debt swells to …

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

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

India TV News  

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

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 4 months ago

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

The Hindu  

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

Pakistan granted rollover on $2.4bn Chinese loan: minister
1 year, 4 months ago

Pakistan granted rollover on $2.4bn Chinese loan: minister

The Hindu  

China has granted Pakistan a two-year rollover on a $2.4 billion loan, Islamabad said Thursday, giving the debt-saddled nation breathing space in its balance-of-payments crisis. Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted earlier this month. Finance Minister Ishaq Dar said China's EXIM …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 4 months ago

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

News 18  

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

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans
1 year, 4 months ago

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

India TV News  

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

Pakistan’s forex reserves double to $8.73 billion
1 year, 5 months ago

Pakistan’s forex reserves double to $8.73 billion

Live Mint  

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

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

IMF warns of ’exceptionally high’ risks for Pakistan

Live Mint  

The International Monetary Fund, based in Washington, has stated in a 120-page report released on Tuesday that Pakistan requires an additional IMF program and assistance from other international lenders beyond the current election cycle and the ongoing standby arrangement. The fund said, “Resolving Pakistan’s structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 5 months ago

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

India Today  

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

‘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 …

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

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

The Hindu  

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

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’, …

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