Amid growing economic woes, Pakistan stops clearance of bills, salaries: Report
1 year, 9 months ago

Amid growing economic woes, Pakistan stops clearance of bills, salaries: Report

India Today  

In the wake of worsening economic difficulties, the Pakistan Finance Ministry has directed the Accountant General of Pakistan Revenues to block the salaries of all federal government employees, including cabinet members, as per a local media report. The report follows after the Pakistan government headed by Prime Minister Shehbaz Sharif decided to implement a string of measures to avert a financial crisis in the cash-strapped country. As the country’s financial condition deteriorates, the government directed the AGPR to cease the clearing of bills, including salaries of government employees, The News reported on Saturday. PAK’S FINANCIAL WOES Pakistan’s economy has been struggling to cope with mounting debt, global inflation and political instability, and has been pushed to the brink of collapse.

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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, 1 week ago

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report

ABP News  

The International Monetary Fund will examine the external financing needs of Pakistan in its performance review discussions next week. The global body will hold an unscheduled discussion in the country and assess the need of new foreign loans to fill almost $2.5 billion in external financing gap needed for the fiscal year. Pakistan is currently facing delays in securing loans …

IMF to assess Pakistan's external financing needs during performance review discussions: Report
1 month, 2 weeks ago

IMF to assess Pakistan's external financing needs during performance review discussions: Report

New Indian Express  

ISLAMABAD: The IMF's unscheduled performance review discussions in Pakistan next week will primarily focus on the materialisation of new foreign loans to the country to fill nearly USD 2.5 billion in external financing gap for this fiscal year, according to a media report. The International Monetary Fund will assess Pakistan's external financing needs during these discussions, as some planned loans …

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 …

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 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 …

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 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 …

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'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’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 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 shopkeepers strike nationwide over inflation
1 year, 3 months ago

Pakistan shopkeepers strike nationwide over inflation

The Hindu  

Thousands of Pakistan traders shuttered their shops on Saturday, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections. "Everyone is participating because the situation has become unbearable now," Lahore's Township Traders Union president Ajmal Hashmi told AFP. On Friday, caretaker Prime Minister Anwaar ul Haq Kakar said citizens would have to pay inflated bills as …

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 …

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 …

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 …

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 …

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt
1 year, 5 months ago

IMF approves much-awaited $3 billion bailout for Pakistan, saving it from defaulting on debt

Associated Press  

ISLAMABAD — The International Monetary Fund approved a much-awaited $3 billion bailout for Pakistan on Wednesday, the global lender said, a move that’s likely to save the nation from defaulting on its debt repayments. Later, IMF head Kristalina Georgieva said in a statement that “Pakistan’s economy was hit hard by significant shocks last year, notably the spillovers from the severe …

IMF approves much-awaited $3bn bailout for Pakistan
1 year, 5 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 …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 5 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 …

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar
1 year, 5 months ago

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar

The Hindu  

Pakistan has received deposits of $2 billion from Saudi Arabia, Finance Minister Ishaq Dar said on July 11, ahead of a key meeting of the IMF to endorse a loan for the cash-strapped country. “State Bank of Pakistan has received deposit of $2 billion from the Kingdom of Saudi Arabia. Prime Minister Shehbaz Sharif also extended deep gratitude to the …

Pakistan gets $2bn from Saudi Arabia day before key IMF meeting
1 year, 5 months ago

Pakistan gets $2bn from Saudi Arabia day before key IMF meeting

Al Jazeera  

The kingdom deposits the money into Pakistan’s central bank before a critical meeting of the global lender on $3bn bailout package. Pakistan has received $2bn in financial support from Saudi Arabia, Finance Minister Ishaq Dar said on Tuesday, a day before the International Monetary Fund’s board is expected to give final approval for a much-needed $3bn bailout. Saudi Arabia deposited …

Pakistan assures IMF of $8 billion external payments: Report
1 year, 5 months ago

Pakistan assures IMF of $8 billion external payments: Report

India Today  

Cash-strapped Pakistan has provided the IMF with a financing plan for external payments, in which it has informed the global lender that it will arrange USD 8 billion for the purpose instead of USD 6 billion, according to a media report on Saturday. The Executive Board of the IMF will meet on July 12 to review the SBA for Pakistan …

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

Associated Press  

ISLAMABAD — 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. 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 …

Pakistan seals $3 Billion lifeline: IMF deal offers hope for economic resurgence
1 year, 5 months ago

Pakistan seals $3 Billion lifeline: IMF deal offers hope for economic resurgence

Live Mint  

Cash-strapped Pakistan has reached a staff-level agreement with the Washington-based financial body International Monetary Fund for a crucial bailout package that could lift the South Asian nation out of the economic crisis. The country has got temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the IMF in Washington on Thursday, according …

IMF puts fresh condition on crisis-hit Pakistan to revive loan
1 year, 5 months ago

IMF puts fresh condition on crisis-hit Pakistan to revive loan

Live Mint  

The International Monetary Fund has asked cash-strapped Pakistan to revise the budgetary framework for 2023-24 before its passage from the parliament in order to strike a staff-level agreement, according to a report published by The News International, an English-language newspaper in the crisis-hit country. Pakistan and the IMF are making efforts to evolve a broader agreement on the budgetary framework …

Pakistan Finance Minister Ishaq Dar blames geopolitics for stalled IMF loan; vows against default
1 year, 6 months ago

Pakistan Finance Minister Ishaq Dar blames geopolitics for stalled IMF loan; vows against default

The Hindu  

Pakistan’s Finance Minister Ishaq Dar has blamed geopolitics for a stalled International Monetary Fund loan package and said that global institutions wanted the cash-strapped country to default like Sri Lanka and then take part in the negotiations. Mr. Dar said that no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been …

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system
1 year, 6 months ago

IMF slams new Pakistan budget proposal, says government failing to implement a more fair tax system

Associated Press  

ISLAMABAD — The International Monetary Fund slammed Pakistan’s government on Thursday over its proposal for the new annual budget, saying it failed to implement a more fair tax system in the draft. The harsh criticism by Esther Perez Ruiz, IMF’s representative for Pakistan, raised new concerns about the success of monthslong talks between the cash-strapped Islamic nation and the lender …

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms
1 year, 6 months ago

Pakistan budget ‘missed opportunity’ as IMF bailout cutoff looms

Al Jazeera  

Global lender expresses dissatisfaction with recently presented budget only two weeks before the bailout programme expires. The International Monetary Fund has expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. With time for only one last IMF board review before the end of the $6.5bn …

Pakistan lays out budget but may not satisfy IMF
1 year, 6 months ago

Pakistan lays out budget but may not satisfy IMF

Al Jazeera  

The ‘plain-vanilla’ budget is unlikely to satisfy IMF, which could lead to the South Asian nation defaulting on debt. “It is a plain vanilla budget with no path to structural reforms,” said Shahbaz Ashraf, chief investment officer at Karachi-based investment firm FRIM Ventures. The budget would target total tax revenue of 9.2 trillion rupees, said Dar, who added there would …

Crisis-hit Pakistan set to present budget as IMF watches
1 year, 6 months ago

Crisis-hit Pakistan set to present budget as IMF watches

Al Jazeera  

Pakistan hopes the budget will help unlock more than $2.5bn left in a $6.5bn IMF bailout programme expiring this month. “The focus of discussions over the FY24 budget is to balance the need to strengthen debt sustainability prospects while creating space to increase social spending,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. This month, the World Bank …

Cash-strapped Pakistan hikes petrol price by ₹10 per litre
1 year, 8 months ago

Cash-strapped Pakistan hikes petrol price by ₹10 per litre

The Hindu  

Cash-strapped Pakistan has hiked petrol price by Rs. Finance Minister Ishaq Dar announced the hike in a late-night live address, during which he said the prices of diesel and light diesel oil would remain unchanged at Rs. Debt-ridden Pakistan and the International Monetary Fund have failed to reach a staff-level agreement on the much-needed $1.1 billion bailout package aimed at …

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar
1 year, 8 months ago

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar

The Hindu  

Pakistan's Finance Minister Ishaq Dhar on April 4 announced that the UAE has approved $1 billion in financial support, taking the cash-strapped nation a step closer to unlocking the crucial IMF bailout. Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund, part of a $6.5 billion …

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'
1 year, 8 months ago

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'

Hindustan Times  

Pakistan’s Finance Minister Ishaq Dar said plans to implement fuel subsidies have been shared with the International Monetary Fund to help alleviate the lender’s concerns before it revives a stalled $6.5 billion bailout. Read here: Pakistan inflation skyrockets to 47%, wheat and eggs are more expensive: Report “It’s basically about taking money from rich Pakistanis and giving it to poor …

Pakistan Finance Minister Ishaq Dar Cancels US Trip Due to Political Crisis
1 year, 8 months ago

Pakistan Finance Minister Ishaq Dar Cancels US Trip Due to Political Crisis

News 18  

Pakistan Finance Minister Ishaq Dar on Saturday said he had cancelled his trip to Washington for the spring meetings of the International Monetary Fund and World Bank on the orders of the prime minister due to the political situation in the country. Pakistan is in danger of defaulting on its debt, with an International Monetary Fund bailout programme stalled since …

Pakistan Finance Minister Ishaq Dar to visit Washington; set to hold talks for bailout with IMF
1 year, 8 months ago

Pakistan Finance Minister Ishaq Dar to visit Washington; set to hold talks for bailout with IMF

The Hindu  

Pakistan's Finance Minister Ishaq Dar will be leading a high-powered delegation to the U.S. to attend the annual spring meeting of the International Monetary Fund and the World Bank and for talks with the officials which can help the cash-strapped country to ink a much-needed $1.1 billion bailout with the IMF. Mr. Dar along with an official delegation comprising the …

From the India Today archives (2023) | Pakistan's fast emptying coffers
1 year, 8 months ago

From the India Today archives (2023) | Pakistan's fast emptying coffers

India Today  

We have never defaulted in the past and we won't default now," asserted Pakistan's federal minister for finance Ishaq Dar on March 3, looking irritated at the persistent questions journalists were lobbing at him at a press conference. His irritation stemmed from ongoing speculation about the country's crisis-wracked economy; the latest blow dealt by credit ratings agency Moody's, which had …

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity
1 year, 8 months ago

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity

The Hindu  

Pakistani Finance Minister Ishaq Dar said on March 31 that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis. Longtime ally Beijing has provided the only help Islamabad has got so far, with refinancing of $1.8 billion credited last month to Pakistan's central bank. In …

Pakistan inflation soars to 47%, Onions up 228% and wheat up 120%
1 year, 8 months ago

Pakistan inflation soars to 47%, Onions up 228% and wheat up 120%

Live Mint  

Crisis-hit Pakistan recorded a new high in inflation based on sensitive price indicator as it went to around 47% year on year the week ended March 22, 2023, according to Pakistan Bureau of Statistics data. Items that have recorded a price high are onions, cigarettes, wheat flour, gas charges for Q1, diesel, tea lipton, bananas, rice basmati broken, petrol, eggs, …

IMF sets another condition for crisis-hit Pakistan to revive loan
1 year, 8 months ago

IMF sets another condition for crisis-hit Pakistan to revive loan

Live Mint  

The International Monetary Fund and crisis-hit Pakistan are locked in a debate over an unfinished loan program required for the ongoing financial collapse. The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019 -- vital to Pakistan to avert defaulting on external payment obligations. IMF has now asked Islamabad to provide external financing assurances …

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan
1 year, 9 months ago

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan

Hindustan Times  

The International Monetary Fund said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support. “A staff-level agreement will follow once the few remaining points are closed,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. …

IMF sees substantial progress by crisis-hit Pakistan. When will it unlock loan?
1 year, 9 months ago

IMF sees substantial progress by crisis-hit Pakistan. When will it unlock loan?

Live Mint  

Crisis-hit Pakistan has made ‘substantial progress’ toward meeting policy commitments needed to unlock billions of dollars in loans the country needs to avoid default, the International Monetary Fund said, adding that a state-level agreement will follow once the few remaining points are closed. Esther Perez Ruiz, the IMF’s resident representative for Pakistan said, “Ensuring there is sufficient financing to support …

Apprehensions of Pakistan defaulting on debts ’over now’, says PM Sharif
1 year, 9 months ago

Apprehensions of Pakistan defaulting on debts ’over now’, says PM Sharif

Live Mint  

Apprehensions of a default by Pakistan on debt obligations are "over now", the country's Prime Minister Shehbaz Sharif said on Wednesday, adding that a staff-level agreement with the International Monetary Fund "will be done soon". PM Sharif has said that the staff-level agreement with the IMF will be reached "within a few days" as the cash-strapped government has accepted even …

If IMF delays loan Pak will be in deeper troubles, US Bank warns
1 year, 9 months ago

If IMF delays loan Pak will be in deeper troubles, US Bank warns

Live Mint  

If crisis-hit Pakistan does not secure funding from the International Monetary Fund, the country will need to stop its debt repayments, a US bank warned as Islamabad is close to inking a deal with the IMF to unlock the $1.1 billion loan from the $6.5 billion bail out package. The Bank of America said China can rescue crisis-hit Pakistan because …

IMF deal in jeopardy, only China can bailout Pakistan: Report
1 year, 9 months ago

IMF deal in jeopardy, only China can bailout Pakistan: Report

Live Mint  

A US bank said that China can rescue crisis-hit Pakistan because of its close ties with the country, while the International Monetary Fund and Pakistan are still in tough negotiations on financial aid for economic recovery, according to a report by Dawn news. “Whether and when Pakistan can receive the next installment from the IMF is still up in the …

Cash-strapped Pakistan seeks US help to secure 'lenient treatment' from IMF: Report
1 year, 9 months ago

Cash-strapped Pakistan seeks US help to secure 'lenient treatment' from IMF: Report

India Today  

Pakistan, which is hit by a severe economic crisis, has decided to seek help from the United States to secure “lenient treatment” from the International Monetary Fund. After failing to convince the lender, Islamabad is left with no option but to seek help from Washington and its western allies, in order to secure “lenient treatment” from the IMF for moving …

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