Pakistan receives $1 billion from China
1 year, 9 months ago

Pakistan receives $1 billion from China

The Hindu  

Cash-strapped Pakistan has received $1 billion from its close ally China to support its critically low foreign reserves amidst the uncertainty to revive a stalled International Monetary Fund loan. Earlier, Finance Minister Ishaq Dar said Pakistan had paid back $1 billion to China last Monday against a due amount of $1.3 billion and it was hoped that the amount would be returned. Mr. Dar earlier lashed out at the IMF and alleged that geopolitics was behind its loan package as global institutions wanted Pakistan to default like Sri Lanka and then enter negotiations. The policy option announced by Mr. Dar shows that Pakistan will pay multilateral loans on time while discussing the rollover of bilateral loans with individual countries.

China Pakistan Billion Imf Dar  imf  pakistan  support  dar  loans  received  reserves  billion  bilateral  receives  china

History of this topic

IMF approves $1.3 billion loan for Pakistan, frees first tranche of bailout package
3 days, 12 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
3 days, 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 …

Pakistan gets new Hangor submarine from China. But does it really have money to pay Beijing?
1 week, 5 days ago

Pakistan gets new Hangor submarine from China. But does it really have money to pay Beijing?

Firstpost  

Pakistan, which has for long faced a fiscal crisis, just received a Hangor-class submarine from China as part of a $5 billion deal. China, having made Pakistan loans totalling nearly $29 billion, is the country’s biggest creditor Does Pakistan have money to buy submarines? According to a recent report by the Stockholm International Peace Research Institute, China has supplied 81 …

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, 3 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 …

Zardari in China but it's the same old story in Pakistan
Trending News
1 month, 3 weeks ago

Zardari in China but it's the same old story in Pakistan

Firstpost  

Zardari will fly down to China at a time when his country is grappling with economic and security issues, which indirectly poses a problem for Beijing which has ongoing projects there Pakistan’s President Asif Ali Zardari on Tuesday will begin his official five-day visit to China at the invitation of President Xi Jinping. This is the second time a high-ranking …

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister
1 month, 4 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 …

Pakistan’s reliance on Chinese-built power plants is strangling its economy
3 months, 3 weeks ago

Pakistan’s reliance on Chinese-built power plants is strangling its economy

Live Mint  

ISLAMABAD, Pakistan—When Muhammad Imtiaz received an electricity bill of over $120 last summer, he panicked. A decade ago, Pakistan, cripplingly short of power, turned to Beijing to build more than a dozen coal, solar and hydroelectric power plants as part of China’s huge infrastructure push in the country. Pakistan commissioned the Chinese power plants in 2015, yet it didn’t carry …

With economy in freefall, Pakistan’s global standing hits a new low
4 months, 1 week 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’s Ambitious Budget Made With an Eye on IMF Deal
7 months, 4 weeks ago

Pakistan’s Ambitious Budget Made With an Eye on IMF Deal

The Diplomat  

Pakistan’s newly elected government recently presented its federal budget for 2024-2025, setting an ambitious tax revenue target of $46.66 billion – a nearly 40 percent jump from the past year. The government’s ambitious budget plans may impress international observers, but the true test will be whether it can overcome these deep-seated challenges to expand the tax net meaningfully. The government’s …

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
8 months 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 bn loan deal with IMF
8 months, 2 weeks 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
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 …

Pakistan President Zardari gives his assent to tax-laden Finance Bill criticised by opposition
8 months, 4 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
9 months, 2 weeks 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 {{ …

China dictates Pakistani Military to launch operations against terrorists?
9 months, 3 weeks ago

China dictates Pakistani Military to launch operations against terrorists?

Op India  

Following the death of its five Chinese Engineers in an attack in March this year and similar casualties in earlier attacks, China has been mounting pressure on Pakistan to accept its humiliating demands. According to reports, Chinese Vice Foreign Minister, Sun Weidong held a meeting with Pakistani officials ahead of Pakistani PM’s five-day visit to China. In a press release, …

Sharif’s Beijing trip: Can China-Pakistan Economic Corridor be revived?
9 months, 3 weeks ago

Sharif’s Beijing trip: Can China-Pakistan Economic Corridor be revived?

Al Jazeera  

Islamabad, Pakistan – Pakistan’s Prime Minister Shehbaz Sharif is scheduled to fly to China on June 4 for a five-day trip that will see him engage with Beijing’s top leadership, at a time when Islamabad has come to increasingly rely on its alliance with the world’s second-largest economy. As Pakistan looks to similarly kick-start its economy from the doldrums, amid …

Pakistan PM Shehbaz Sharif to visit China next week to further boost bilateral ties
9 months, 4 weeks ago

Pakistan PM Shehbaz Sharif to visit China next week to further boost bilateral ties

The Hindu  

“Pakistan Prime Minister Shehbaz Sharif will embark on a five-day visit to China on June 4 to further strengthen bilateral ties,” the Foreign Office announced on May 31, as the all-weather allies seek to upgrade cooperation under the multi-billion dollar China-Pakistan Economic Corridor. The Prime Minister chaired a meeting in Islamabad on Friday on his upcoming China visit directed to …

Wake Up, Dhaka! China’s ‘Help’ Comes at a Steep Price
10 months ago

Wake Up, Dhaka! China’s ‘Help’ Comes at a Steep Price

News 18  

China’s investment and lending in South Asian and African countries has dramatically increased following the “Going Global” strategy of 1999, reaching new heights with the ambitious Belt and Road Initiative launched in 2013. Chinese government’s interest in Bangladesh gained prominence around 2009 and intensified after Xi Jinping’s landmark visit to Dhaka in 2016—the year Bangladesh joined the BRI and cemented …

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, 4 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 …

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 {{ …

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 …

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package
1 year 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
1 year 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 is out of friends and out of money
1 year, 1 month ago

Pakistan is out of friends and out of money

Hindustan Times  

PAKISTAN’S ELECTION on February 8th featured state-of-the-art avatars and TikTok videos, but the question it poses evokes an old theme. Pakistan’s most popular politician, Imran Khan, a celebrity ex-cricketer turned rabble-rouser, was imprisoned on bogus charges at the army’s behest before the poll, even though he had at one time worked with the generals. China remains Pakistan’s “eternal friend” but …

Pakistan’s election: Can the next government bring economic stability?
1 year, 1 month 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’ …

China’s perspective on ties with Pakistan and CPEC’s prospects
1 year, 2 months ago

China’s perspective on ties with Pakistan and CPEC’s prospects

Hindustan Times  

This year marks a decade since the announcement of the China-Pakistan Economic Corridor. This brief analyses Chinese-language literature to understand the country’s current stance on Pakistan and the CPEC. China is keen for Pakistan to work on its internal stability and to creatively engage multiple stakeholders, particularly India and the US, to help successfully implement the CPEC and its larger …

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 …

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

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 …

Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says
1 year, 7 months ago

Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says

Associated Press  

ISLAMABAD — China has invested $25.4 billion in Pakistan over the past decade for projects ranging from roads to power plants, China’s vice premier said Monday, as the two countries celebrated the 10th anniversary of the so-called Belt and Road Initiative. In his televised remarks, Chinese Vice Premier He Lefing said Pakistan’s southwestern town of Gwadar was once just a …

Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says
1 year, 7 months ago

Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says

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 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 …

Discover Related