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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 …

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Pakistan PM meets IMF director in a last-ditch effort to get bailout
1 year, 6 months ago

Pakistan PM meets IMF director in a last-ditch effort to get bailout

The Hindu  

Pakistan Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva on Thursday as the cash-strapped country made a last-ditch effort to get a much-needed loan from the global lender, a media report said. Recalling their recent telephone conversation on May 27, 2023, the prime minister apprised Ms. Georgieva of Pakistan's economic outlook and outlined the steps taken by the …

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Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy
1 year, 6 months ago

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy

Op India  

On Friday, May 26, Shehbaz Sharif, Pakistan’s prime minister, stated that an agreement with the International Monetary Fund has not been reached, but that China’s backing will be critical in keeping the country from default. PM Sharif stated in his address to industrialists and businesses in Karachi that Pakistan has ‘successfully fulfilled all of the rigorous conditions imposed by the …

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Declare assets of govt officials of grade 17 and above, IMF asks Pakistan
1 year, 10 months ago

Declare assets of govt officials of grade 17 and above, IMF asks Pakistan

Live Mint  

International Monetary Fund has asked Pakistan to declare the assets of government officials of grade 17 and above, as well as those of their families, Pakistan based The Nation newspaper reported. Economic and fiscal policies and reforms agenda are being discussed by Pakistan and IMF to accomplish the 9th review under the Extended Fund Facility. Pakistan Prime Minister Shehbaz Sharif …

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Significant progress in talks with Sri Lanka: IMF
2 years, 5 months ago

Significant progress in talks with Sri Lanka: IMF

The Hindu  

The International Monetary Fund on Thursday said it has made“significant progress” in talks with Sri Lanka, which has sought the global financial institution’s help to cope with its unprecedented economic crisis. Concluding a ten-day visit to the island nation, an IMF team said: “Significant progress was made, and discussions will continue virtually towards reaching a staff-level agreement on the EFF …

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Pakistan to Offer Foreign Currency Bond, Hires Commercial Banks: Report
3 years, 8 months ago

Pakistan to Offer Foreign Currency Bond, Hires Commercial Banks: Report

News 18  

The International Monetary Fund last week approved a $ 500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan program. The South Asian nation is now ready to offer a foreign currency bond and has hired commercial banks, according to a report by Bloomberg. The IMF said in a …

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