Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default
1 year, 5 months ago

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default

The Hindu  

The International Monetary Fund has agreed to provide $3 billion to Pakistan in badly needed relief to help bail out the impoverished country's ailing economy. Ms. Porter, the IMF’s mission chief to Islamabad, said Pakistan’s economy has faced several heavy blows recently, such as the devastating floods last summer that killed 1,739 people, caused $30 billion in damage and impacted millions of Pakistanis. Ms. Porter said despite the authorities’ efforts to reduce imports and the trade deficit, reserves have declined to very low levels and liquidity conditions in the power sector also remain acute. “Now this funding of 3 billion dollars for nine months will definitely help restore some investors' confidence.” On Friday, Mr. Sharif tweeted that the arrangement will help strengthen Pakistan’s foreign exchange reserves, enable the country to achieve economic stability, and put it on the path of sustainable economic growth. we will achieve the target of a stable economy and become a prosperous country,” Sharif said.. Finance Minister Ishaq Dar also welcomed the agreement with the IMF.

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History of this topic

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

Pakistan blames IMF for record inflation, erosion in purchasing power

Firstpost  

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

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 …

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 …

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 …

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’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 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 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 …

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 …

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 swears in new parliament amid chaotic scenes, as Imran Khan's party protests vote count
9 months, 3 weeks ago

Pakistan swears in new parliament amid chaotic scenes, as Imran Khan's party protests vote count

The Hindu  

Pakistan's National Assembly swore in newly elected members on Thursday in a chaotic scene, as allies of jailed former Premier Imran Khan protested what they claim was a rigged election. Lawmakers from Mr. Khan's Pakistan Tehreek-e-Insaf party repeatedly chanted "Vote-thief!” as Shehbaz Sharif, who's expected to form the government, entered the Lower House of parliament with his brother Nawaz Sharif. …

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 …

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 …

What Assurances Did the US Seek from Pakistan to Support its Case with the IMF?
1 year, 4 months ago

What Assurances Did the US Seek from Pakistan to Support its Case with the IMF?

The Diplomat  

In a surprising turn of events, Pakistan was able to secure a $3 billion lifeline from the International Monetary Fund just when the lender’s previous Extended Fund Facility crashed on June 30. The approval of the IMF deal for Pakistan, however, has raised questions about whether Washington asked Islamabad for any quid pro quo against China. China's commercial and economic …

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 …

‘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 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 …

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’, …

IMF deposits much-awaited $1.2 billion with Pakistan’s central bank under bailout, minister says
1 year, 5 months ago

IMF deposits much-awaited $1.2 billion with Pakistan’s central bank under bailout, minister says

Associated Press  

ISLAMABAD — The International Monetary Fund has deposited a much-awaited first installment of $1.2 billion in Pakistan’s central bank under a bailout deal aimed at helping Islamabad avoid defaulting on its debt repayments, the Pakistani foreign minister said Thursday. U.S. Secretary of State Antony Blinken welcomed the IMF bailout in a tweet saying that the U.S. stands with the Pakistani …

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