Articles for Imf Pakistan

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 …

Economy Pakistan Financial Tax Economic Country Cent
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 …

Tax Billion Deal Eff Imf Pakistan
Pakistan grapples with sky-high inflation; Wheat flour costs 800 Pak rupees, Chapati worth 25 Pak rupees
7 months, 3 weeks ago

Pakistan grapples with sky-high inflation; Wheat flour costs 800 Pak rupees, Chapati worth 25 Pak rupees

Hindustan Times  

Inflation is steeply rising in Pakistan, causing citizens to struggle to afford essential items to provide basic meals for their families, news agency ANI reported. Additionally, a single roti now costs 25 PKR, leading the public to lament that the “government is ignoring their needs.” Pakistan inflation: The price of a kilo of flour now stands at 800 Pakistani rupees, …

Pakistan Price Pak Rate Bloomberg Imf Pakistani
More turmoil in Pakistan: Why Karachi residents are left with dry taps
1 year, 3 months ago

More turmoil in Pakistan: Why Karachi residents are left with dry taps

Firstpost  

A power failure was reported on Monday at the Dhabeji pumping station, which supplies water to the entire city of Karachi. The water scarcity comes at a challenging time for the country already reeling from an electricity crisis Pakistan could potentially be facing a water scarcity in addition to a power crisis. “Everyone is participating because the situation has become …

Water Electricity Power Prices High According Karachi
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 …

China Pakistan Loan Million Imf Pakistanis
Pakistan’s premier meets with the head of IMF in Paris, hoping to unlock $6B deal to avoid default
1 year, 6 months ago

Pakistan’s premier meets with the head of IMF in Paris, hoping to unlock $6B deal to avoid default

Associated Press  

ISLAMABAD — Pakistan’s premier Shahbaz Sharif met Thursday with the head of the International Monetary Fund on the sidelines of a global financing meeting in Paris, hoping to unlock a $6 billion bailout and gain the release of a critical tranche of $1.1 billion in loans which has been on hold since November. The meeting between Sharif and IMF’s Managing …

Pakistan Economic Billion Paris Sharif Imf Bailout
Pakistan receives $1 billion from China
1 year, 6 months ago

Pakistan receives $1 billion from China

The Hindu  

Cash-strapped Pakistan has received $1 billion from its close ally China to support its critically low foreign reserves amidst the uncertainty to revive a stalled International Monetary Fund loan. Earlier, Finance Minister Ishaq Dar said Pakistan had paid back $1 billion to China last Monday against a due amount of $1.3 billion and it was hoped that the amount would …

China Pakistan Billion Imf Dar
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 …

Billion Finance Minister Dar Imf Pakistan Ishaq Dar
Pakistan central bank raises key interest rate 100bps to record 21%
1 year, 8 months ago

Pakistan central bank raises key interest rate 100bps to record 21%

Hindustan Times  

Pakistan's central bank raised its key interest rate by 100 basis points to its highest-ever level on Tuesday, as the cash-strapped country stepped up its fight against soaring consumer prices. The key rate of the State Bank of Pakistan now stands at a record 21% as the country struggles with consumer price inflation that reached its highest annual level ever …

Pakistan Rate Imf Sbp
Low on food, high on nukes: Why is bankrupt Pakistan focused on its nuclear programme amid worst crisis?
1 year, 9 months ago

Low on food, high on nukes: Why is bankrupt Pakistan focused on its nuclear programme amid worst crisis?

Firstpost  

Pakistan is facing its worst economic crisis. Instead of focusing on acquiring a bailout from the International Monetary Fund to ease the troubles of its common man, the government is focused on its nuclear programme, with Pakistan’s finance minister Ishaq Dar, while responding to a question on the cash crunch, on Thursday said that his government will not compromise anything …

China Pakistan Nuclear Weapons Country Crisis Minister Imf
Pak’s economy in ’shambles’; China is lending a hand
1 year, 9 months ago

Pak’s economy in ’shambles’; China is lending a hand

Live Mint  

Pakistan's external foreign debt amounts to $126 billion, out of which $30 billion is held by China, according to the International Monetary Fund data. This amount is three times larger than Pakistan's IMF debt of $7.8 billion and exceeds its borrowings from the World Bank and Asian Development Bank altogether. According to a 2019 study by the Jang Group and …

China Pakistan Billion Imf
‘Ditch IMF, Ask Islamic Nations to Set up Chit Fund’: Pak Cleric’s Message to Govt
1 year, 10 months ago

‘Ditch IMF, Ask Islamic Nations to Set up Chit Fund’: Pak Cleric’s Message to Govt

News 18  

A cleric from Pakistan has caused controversy by proposing the Pakistan government to form a chit-fund consisting of only Islamic nations and asking them to deposit billion dollars each to solve the ongoing economic crisis, according to a video shared by News18 Hindi. HRW Warns Conditions Will Trouble Pakistan’s Poor The conditions proposed by the International Monetary Fund on Pakistan …

Pakistan Fund Pak Imf Hrw Chit Fund
IMF Giving 'Very Tough Time': Pakistan PM Shehbaz Sharif Says On $7 Bn Loan Review
1 year, 10 months ago

IMF Giving 'Very Tough Time': Pakistan PM Shehbaz Sharif Says On $7 Bn Loan Review

ABP News  

New Delhi: Pakistani Prime Minister Shehbaz Sharif on Friday said that the International Monetary Fund was giving a ‘very tough time’ while reviewing a $7 billion loan programme, reported The Dawn. According to the report, Pak PM Shehbaz Sharif said that the IMF delegation, which is visiting the country for discussions on the ninth review of a $7 billion loan …

Pakistan Review Report Sharif Imf Dawn Shehbaz Sharif
Pakistan crisis: Can the country be saved from collapse?
1 year, 10 months ago

Pakistan crisis: Can the country be saved from collapse?

Firstpost  

Pakistan’s dire economic situation just keeps getting worse with reports of a double-whammy from the IMF and its forex reserves dropping even lower. On Thursday, Islamabad received a double whammy from the International Monetary Fund – which not only predicted a slowdown in the Gross Domestic Product from 3.5 per cent to two per cent for the current fiscal, but …

China Russia Pakistan Sri Lanka Inflation Debt Country
World Bank cuts Pakistan’s GDP growth projection to 2 percent
1 year, 11 months ago

World Bank cuts Pakistan’s GDP growth projection to 2 percent

Al Jazeera  

Islamabad, Pakistan – Predicting a difficult year ahead for Pakistan, the World Bank has revised the country’s growth projections from 4 percent in June last year to 2 percent for the current fiscal year, citing “precarious economic situation, low foreign exchange reserves and large fiscal and current account deficits” among the primary reasons. The bank, in its Global Economic Prospects …

Growth Pakistan Bank Economic Country Imf 2 Percent
Pakistan Economy is Drowning But Not Because of Floods - News18
2 years, 3 months ago

Pakistan Economy is Drowning But Not Because of Floods - News18

News 18  

On 29 August 2022, the International Monetary Fund executive board gave its nod for restoring the Enhanced Fund Facility for Pakistan. Worse, the IMF programme has at best given a breather and isn’t a panacea for the deep structural problems that have made the Pakistan economy unsustainable, even unviable. If hostility with India has forced ruinous defence spending on Pakistan, …

India Economy Floods Pakistan Political Money Economic