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Articles for Imf Bailout

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 …

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Sri Lanka receives first tranche of IMF bailout
1 year, 9 months ago

Sri Lanka receives first tranche of IMF bailout

The Hindu  

Sri Lanka has received the first tranche of an IMF bailout programme, President Ranil Wickremesinghe told Parliament on March 22. State finance minister Shehan Semasinghe said in an interview that Sri Lanka is ready to engage in restructuring talks with bilateral and private creditors to recover debt sustainability as "soon as possible." This was the 17th IMF bailout for Sri …

Sri Lanka Lanka Sri Imf Bailout
Sri Lanka receives first tranche of IMF bailout, says president
1 year, 9 months ago

Sri Lanka receives first tranche of IMF bailout, says president

Al Jazeera  

Ranil Wickremesinghe says his government will kick off the next round of talks with creditors in the third week of April. Sri Lanka has received the first tranche of its bailout package from the International Monetary Fund, President Ranil Wickremesinghe told parliament. China, Sri Lanka’s biggest bilateral creditor, earlier this month agreed to restructure its loans to the country, clearing …

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IMF approves Sri Lanka's bailout: Ranil Wickremesinghe
1 year, 9 months ago

IMF approves Sri Lanka's bailout: Ranil Wickremesinghe

The Hindu  

Sri Lanka's request for a $2.9-billion bailout was approved by the IMF on Monday, the cash-strapped South Asian nation's President Ranil Wickremesinghe announced. "We are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to $7.0 billion in funding from the IMF and International financial institutions," he said. Earlier in the day, Wickremesinghe's office …

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Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout
1 year, 9 months ago

Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout

The Hindu  

Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe’s office said on March 20, 2023 on the eve of a desperately needed $2.9 billion IMF bailout. The IMF’s executive board was expected to sign off on Colombo’s bailout application later on Monday after a long delay in securing financial assurances from China, Sri Lanka’s …

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Sri Lanka's central bank raises interest rates in anticipation of IMF bailout
1 year, 9 months ago

Sri Lanka's central bank raises interest rates in anticipation of IMF bailout

India TV News  

Sri Lanka's central bank on Friday decided to raise both deposit and lending interest rates in anticipation of the finalisation of a much-needed bailout facility from the IMF, the governor Nandalal Weerasinghe told reporters. “Given the necessity of fulfilling all the ‘prior actions’ in order to move forward with the finalisation of the IMF Extended Fund Facility arrangement, the Monetary …

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Pakistan President Alvi's advice to finance minister on raising taxes required for IMF bailout
1 year, 10 months ago

Pakistan President Alvi's advice to finance minister on raising taxes required for IMF bailout

India Today  

Pakistan President Arif Alvi on Tuesday asked finance minister Ishaq Dar to take Parliament into confidence before passing an ordinance to raise taxes to the tune of Rs 170 billion, further complicating the cash-strapped country's desperate attempts to secure the much-needed IMF bailout package. READ | Fitch downgrades Pakistan's rating; warns default a 'real possibility' Despite Pakistan bending its back …

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Cyclical troubles: On IMF bailout for Pakistan
1 year, 10 months ago

Cyclical troubles: On IMF bailout for Pakistan

The Hindu  

February 13, 2023 12:10 am | Updated 04:11 pm IST After 10 days of talks with the Pakistan government, an IMF delegation left Islamabad on February 9 without a concluding statement either on its review of an existing $7 billion loan programme or on a fresh tranche of loans to help the distressed economy. The Shehbaz Sharif-led government insisted that …

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IMF, Pakistan fail to strike deal on bailout package
1 year, 10 months ago

IMF, Pakistan fail to strike deal on bailout package

The Hindu  

Cash-strapped Pakistan and the IMF have failed to reach a staff-level agreement on a much-needed $1.1 billion bailout package aimed at preventing the country from going bankrupt. In a statement Porter said, the IMF team welcomes Pakistan Prime Minister Shehbaz Sharif's commitment to implementing policies needed to safeguard macroeconomic stability and thanks the authorities for the constructive discussions. Pakistan Finance …

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IMF agrees to Ghana $3bn debt bailout
2 years ago

IMF agrees to Ghana $3bn debt bailout

Al Jazeera  

IMF board approval of the proposed three-year loan is expected early next year, the finance minister said. IMF board approval of the proposed three-year loan is expected “early next year”, Ofori-Atta said. Stephane Roudet, IMF’s mission chief to Ghana, said in a statement on Monday: “The Ghanaian authorities have committed to a wide-ranging economic reform programme, which builds on the …

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Sri Lanka's economic crisis pushes millions into poverty as government seeks IMF bailout
2 years, 3 months ago

Sri Lanka's economic crisis pushes millions into poverty as government seeks IMF bailout

ABC  

In her outstretched palms, 49-year-old Nilanthi Gunasekera holds her family's last remaining handful of dried fish — a reminder of Sri Lanka's worst economic crisis in decades. Key points: An economic crisis has pushed many Sri Lankans into poverty More than one-quarter of the population is struggling to secure adequate, nutritious food, the UN says The new government of is …

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Sri Lankan delegation heads to US to seek $4 billion bailout package from IMF
2 years, 8 months ago

Sri Lankan delegation heads to US to seek $4 billion bailout package from IMF

The Hindu  

A Sri Lankan government delegation is headed to the U.S. on Sunday to engage with the IMF to secure a $4 billion package as it desperately tries to salvage the country's beleaguered economy currently reeling under a severe forex crisis. The economic crisis also triggered a political turmoil in the island nation with citizens holding nationwide street protests for weeks …

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