The article reports that the new agreement of Pakistan with the International Monetary Fund (IMF) over a $7.6 billion loan might lead to more help from other donors and is expected to prevent economic collapse in the country. According to Shaukat Tarin, economic adviser to Pakistan's prime ...
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 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...
The IMF, which approved a $7 billion, 37-month loan for Pakistan in September, did not immediately respond to a request for comment. Pakistan relies heavily on expensive natural gas and burning wood for heating during winter. Power consumption in Pakistan has declined 8-10%...
Pakistani representatives flew to Dubai, United Arab Emirates, for talks with the International Monetary Fund (IMF) in a bid to secure a rescue loan and avert a balance of payments crisis, while Argentina's president rekindled memories of the country's 2001 debt default as she announced a ...
The budget comes ahead of more talks with the IMF for a loan of between $6 billion and $8 billion to avert a debt default by Pakistan, the slowest-growing economy in South Asia. Finance Minister Muhammad Aurangzeb said at a press conference that his government would work on securin...
The pandemic reduced global demand for textiles and apparel. With so little diversification in its economy, Bangladesh was unable to pull in enough revenue from other industries to help pay the bills. It was forced to seek a loan from the IMF in 2022. ...
Pakistan reaches $7bn loan deal with IMF PM Shehbaz Sharif has pushed tax reforms to secure debt-stricken country’s 24th funding programme Save Sunday, 7 July, 2024 InterviewPakistan's economy Pakistan finance minister warns taxes must rise to break bailout cycle Former JPMorgan banker says...
Pakistan’s military backs Sharif in push for IMF reforms Country’s powerful armed forces support Islamabad’s painful restructuring under $7bn bailout July 13 2024 Pakistan reaches $7bn loan deal with IMF PM Shehbaz Sharif has pushed tax reforms to secure debt-stricken country’s 24th funding...
Pakistan previously approached China and other countries for aid and China offered help on some conditions that would essentially require Pakistan to get an IMF loan. The article claims that the tactic served to limit the embarrassment of President Asif Ali Zardari whose wife Bonaire Bhutto, then ...