Pakistan, IMF reach agreement over release of US$1 bn loan By: Web Desk on June 22, 2022ISLAMABAD: On Tuesday night, Pakistan and the IMF evolved a broader agreement on the budget 2022-23, leading to the revival of the extended fund facility (EFF) after authorities committed to generate Rs436 billion more taxes and increasing petroleum levy gradually up to Rs50 per litre. According to officials of the finance ministry, the Fund has […]
US agrees to help Pakistan reach an agreement with IMF By: APP on June 20, 2022In line with Pakistan’s request regarding assistance from the United States for the revival of the International Monetary Fund (IMF) programme, the latter has agreed to help Islamabad negotiate a deal with the global lender, sources reported. A top official of the Finance Division mentioned Finance Minister Miftah Ismail and State Minister for Finance Aisha […]
IMF gives an ultimatum to remove fuel subsidy, exemptions to revive loan program for Pakistan By: Web Desk on May 26, 2022DOHA: The International Monetary Fund (IMF) late Wednesday delayed the revival of the stalled $6-billion programme under the External Financing Facility (EFF) for Pakistan. The revival was expected to bring stability to the financial markets, the fast-weakening Pakistani rupee, and the depleting foreign exchange reserves, as the government had pinned hopes on the programme’s resumption. […]
Talks with IMF may extend beyond 25th, says SBP chief By: Web Desk on May 24, 2022KARACHI: Pakistan and the IMF are likely to go an extra mile to finish the seventh review under the bailout programme, the central bank chief said on Monday, indicating the ongoing talks could last longer than expected to cover the budgetary procedure. “Talks may continue beyond May 25 for a few more days, but the […]
IMF chief urges fast, well-coordinated actions to tackle food crisis By: Xinhua/APP on May 19, 2022WASHINGTON: The International Monetary Fund (IMF) chief said on Wednesday that the Russia-Ukraine war has led to food shortages and sharply higher prices, urging the international community to take fast, well-coordinated actions to tackle the food crisis. The war has created “a crisis on top of a crisis” around the globe with countries facing food […]