IMF Agrees to $7.6 Billion Loan to PakistanKhalid Qayum
The Executive Board of the International Monetary Fund (IMF) approved Monday to provide Pakistan with $7.6 billion of urgently needed loan financing, foreign reports said. It is reported that Pakistan is currently in a balance of payments crisis, and the 23 month standby loan is expected to for...
Pakistan will receive a total of 6 billion U.S. dollars loan package over a period of three years from the IMF, local media reported. Earlier, Adviser to the Pakistani prime minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh said the IMF board approved the bailout package ...
Pakistan's Federal Minister for Finance, Revenue, and Economic Affairs Asad Umar said that Pakistan was in urgent need of 12 billion U.S. dollars to stave off the balance of payment crisis, out of which, a major chunk would be acquired through the IMF loan. An official of the Ministry o...
The loan was granted on condition that Pakistan—which was suffering an energy crisis—carried out extensive economic reforms, particularly in the energy and taxation sectors. “The mission welcomes the authorities’ continued commitment to their IMF-supported economic reform program, which has significan...
The IMF’s meaning for countries is activity during short-term macroeconomic crisis, as it provides credit not only to underdeveloped countries, but all countries that are members of the IMF. In terms of cryptocurrency, the IMF has issued a report considering the benefits and drawback of using...
A part of the first 331 million IMF US dollar tranche had been used to repay an Indian loan of 121 million dollars. That does not create any disturbance in the domestic credit system or reserve money. However, if IMF money is sold to the central bank to generate rupees, reserve money ex...
year bailout program of $6 billion. At the time, the spokesman had said this program would support Pakistan’s efforts to achieve “sustainable growth” and “improve the standards of living.” Islamabad has already received the first tranche of this loan, worth $991.4 million, from the IMF...
The total outlay of the budget will now be Rs14.48tr. Meanwhile, a statement issued by the PML-N said PM Shehbaz Sharif had held a third meeting with the IMF chief in Paris before his departure for London in which he had reiterated Pakistan’s commitment to complete the Fund’s programme...
12-year gratuity payment They have been told to take 12-year gratuity payment, even though they have worked for more than 25 years in Oman. This has left many in the lurch as banking on the eventual payment of gratuity money they had many plans, including paying off loans. Talking...