ISLAMABAD, Nov. 16 (Xinhua) -- The International Monetary Fund (IMF) and the Pakistani authorities have reached a staff-level agreement on the first review under Pakistan's Stand-By Arrangement, the IMF said. The agreement on the first review of the nine-month arrangement is subject to appro...
According to Shaukat Tarin, economic adviser to Pakistan's prime minister, the IMF will deliver $4 billion in 2008, with the rest to be disbursed in 2009. Tarin adds that the annual interest rate on the IMF program will run between 3.51% and 4.51%, and the country will start repaying ...
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Pakistan's central bank has received $1.2 billion from the IMF as the first tranche of a $3 billion bailout to stabilise the economy, Finance Minister Ishaq Dar said on Thursday, a day after the global lender's board approved the package. Having teetered on the brink of a sovereign debt...
Pakistani Finance Minister Ishaq Dar said during a seminar on Thursday that Pakistan would not default, with or without the IMF, and that the country could not afford to take any additional harsh measures to accommodate the IMF. Pakistan has reversed course on implementing a fuel cross...
Pakistan's finance minister Asad Umar has stepped down from cabinet, he announced Thursday, ahead of securing a crucial bailout deal with the International Monetary Fund.Umar, one of cricketer-turned-premier Imran Khan's most powerful ministers, had been
Pakistan has taken all the measures needed to unfreeze a $6.5 billion credit line and expects to clinch the deal “any day now,” Commerce Minister Syed Naveed Qamar said in an interview in Washington Tuesday. Sri Lanka has completed a list of 15 tasks assigned by the lender to clinch...
Pakistan's finance minister Asad Umar has stepped down, he announced Thursday, with no replacement yet named as Islamabad seeks a crucial bailout deal with the International Monetary Fund. Umar, one of cricketer-turned-premier Imran Khan's most powerful ministers, had been entrusted with the ta...
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The country must balance its Fund-fueled short-term economic growth plans with long-term sustainable plans to create a debt-free economy Even if Pakistan reaches a staff-level agreement with theIMFfor a new $7bn loan, this agreement will come with stringentconditions, including phasing out incen...