Pakistan’s finance minister, Ishaq Dar, said on Friday that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation’s acute balance of payment crisis. Locking in a rollover had been critical for Pakistan, where reserves have dipped to just four weeks’Read More →
Sri Lanka President Ranil Wickremesinghe has committed to tough reforms. (File) Colombo, Sri Lanka: Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation. The International Monetary Fund approvedRead More →
Islamabad: The cash-strapped Pakistan government surrendered to another IMF demand when it imposed a surcharge of up to Rs 3.23 per unit on electricity consumers across the country with effect from July 1, according to a media report on Thursday. The government’s decision is aimed at generating Rs 335 billionRead More →
Islamabad: Pakistan’s government has agreed to increase the policy interest rate which stands at 17 per cent by two per cent or 200 basis points to meet another condition set by the International Monetary Fund (IMF), The Express Tribune reported. With the new decision, Pakistan has accepted another pre-condition ofRead More →
They will get a further boost once the IMF releases USD 1.1 billion after completion of talks. Islamabad: Pakistan on Friday received a much-needed cash injection of USD 700 million from all-weather ally China to help its ailing economy before the finalisation of talks with the IMF for financial assistance.Read More →
Years of financial mismanagement have pushed Pak’s economy to the brink of collapse Islamabad: Pakistan’s parliament gave the go-ahead Monday for the government to raise taxes on a raft of luxury imports and services in a bid to unlock the next tranche of an International Monetary Fund (IMF) loan. FacedRead More →
An agreement, if reached, would still need to be cleared by the IMF board. Islamabad: Talks between the International Monetary Fund and Pakistan will resume virtually on Monday, a Pakistani official said, as the two sides look to reach a deal to unlock funding critical to keep the cash-strapped southRead More →
An increase in the FBR’s tax collection target is on the cards. (Representational) Islamabad: The International Monetary Fund (IMF) has concluded its first round of “tough talks” with Pakistan and said that Fund will share nine tables — comprising macroeconomic and fiscal framework — with the Pakistani authorities which willRead More →
Sri Lankan President Ranil Wickremesinghe. File | Photo Credit: AFP President Ranil Wickremesinghe has instructed his Ministries to slash 5% of their estimated expenditure allocated in this year’s Budget as Sri Lanka’s Treasury was facing an acute shortage of funds, exacerbating fears that the cash-strapped country’s economic crisis could beRead More →
International Monetary Fund chief Kristalina Georgieva. File | Photo Credit: Reuters A third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be “tougher” than last year as the U.S., EU and China will see their economies slow down.Read More →
