Articles for Billion Loan

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 …

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Today’s Cache | Meta using AI to fight false news in India; Microsoft bets big on Starfield video game; Elon Musk took a loan from SpaceX
1 year, 3 months ago

Today’s Cache | Meta using AI to fight false news in India; Microsoft bets big on Starfield video game; Elon Musk took a loan from SpaceX

The Hindu  

Meta using AI to fight false news in India Meta India head Sandhya Devanathan has said that the social media company’s use of artificial intelligence has helped it identify and take down around 85% of potentially harmful content before it is even seen by a human being. Microsoft bets big on Starfield video game Microsoft is celebrating the launch of …

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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 Imf Billion Loan
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 …

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Large-scale subsidies benefit students in need
1 year, 6 months ago

Large-scale subsidies benefit students in need

China Daily  

China has subsidized over 20 million college students from families with financial problems by granting them soft loans totaling over 400 billion yuan, according to the Ministry of Education. The nation began granting State-level student loans in 1999 and during the initial phase of the policy implementation, full-time vocational, undergraduate students and postgraduate students could apply for a loan of …

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Adani group repays $500 million bridge loan to regain investor faith: Report
1 year, 9 months ago

Adani group repays $500 million bridge loan to regain investor faith: Report

Hindustan Times  

The Adani Group has repaid a $500 million bridge loan due Thursday, according to people with knowledge of the matter, adding to a slew of other payments as the Indian conglomerate works to restore confidence in its financial health after a scathing short seller report. Adani: Billionaire Gautam Adani has since pre-paid about $2 billion of share-backed loans, The money …

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China confirms offer to Sri Lanka of debt moratorium
1 year, 10 months ago

China confirms offer to Sri Lanka of debt moratorium

Associated Press  

BEIJING — China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis. China lent to Sri Lanka as part of Beijing’s multibillion-dollar Belt and Road Initiative to increase trade by building ports and …

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Pakistan faces more hardship as govt takes tough measures to secure IMF loan
1 year, 10 months ago

Pakistan faces more hardship as govt takes tough measures to secure IMF loan

Firstpost  

Islamabad: With Pakistan going through a severe economic crisis, the government has move to take several harsh decisions in order to secure the $6.5 billion bailout program from the International Monetary Fund. Bloomberg quoted the foreign-exchange desk at AKD Securities Ltd as saying that the Pakistani rupee saw a further decline on Monday, falling to as low as 270 per …

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Pakistan: Army chief Bajwa urges US to expedite early release of IMF loan
2 years, 4 months ago

Pakistan: Army chief Bajwa urges US to expedite early release of IMF loan

Firstpost  

Earlier this month, the IMF said Pakistan was at a challenging economic juncture after it reached a preliminary Staff-Level Agreement on the combined seventh and eighth reviews for a $6 billion loan facility for the country Islamabad: Pakistan’s Army chief General Qamar Javed Bajwa has reached out to the US for the early disbursal of the nearly USD 1.2 billion …

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Sri Lanka economic crisis explained in 10 points
2 years, 8 months ago

Sri Lanka economic crisis explained in 10 points

India Today  

Protests against Sri Lankan President Gotabaya Rajapaksa's handling of a deepening economic crisis in the island nation continue to rage. Ordinary Sri Lankans are also dealing with shortages and soaring inflation, after the country steeply devalued its currency last month ahead of talks with the International Monetary Fund for a loan programme. With the country's lucrative tourism industry and foreign …

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