International Monetary Fund (IMF) Managing Director Kristalina Georgieva praised the government on Friday for “seriously” embracing reforms under its programme requirements, saying it was already yielding results. Speaking to Pakistan TV on the sidelines of the 56th annual meeting of the World Economic Forum in Davos, Georgieva said: “Pakistani government has seriously embraced reforms and […]
International Monetary Fund
IMF hails PIA privatisation as ‘milestone’ in reform drive
The International Monetary Fund (IMF) has welcomed the privatisation of Pakistan International Airlines (PIA), calling the sale a landmark step in Pakistan’s push to reduce state involvement in commercial sectors, Arab News reported. In a statement provided to Arab News on Saturday, Mahir Binici, the IMF’s resident representative in Pakistan, said the transfer of the […]
IMF ‘conditionalities’ not new, just execution of passed legislation: finmin
Addressing concerns over “new” International Monetary Fund (IMF) conditionalities, Finance Minister Muhammad Aurangzeb has clarified that the measures being implemented under the Fund programme are not fresh demands but the operationalisation of reforms already approved through legislation. In an event on Saturday, Aurangzeb said that steps such as the public disclosure of civil servants’ assets […]
IMF approves $1.3b loan for Pakistan
The International Monetary Fund board on Monday approved a $1.3 billion loan by granting waivers for missing a few core conditions and securing a fresh commitment from Pakistan to introduce new tax measures to offset the impact of a huge revenue shortfall. To secure the IMF board meeting date, the Pakistani authorities had agreed to […]
TTAP demands probe into ‘economic irregularities’ flagged in IMF report
A coalition of six opposition parties, under the banner of Tehreek Tahafuz Ayeen-i-Pakistan (TTAP), on Saturday demanded an investigation into alleged economic irregularities highlighted in a recent International Monetary Fund’s (IMF) report Addressing a press conference along with Pakistan Tehreek-e-Insaf (PTI) leader Taimur Khan Jhagra, former Sindh governor criticised the incumbent government for failing to […]
IMF sees 6.5% GDP upside if Pakistan fixes corruption, governance
The International Monetary Fund (IMF) has predicted that Pakistan could lift its gross domestic product (GDP) between 5% and 6.5% over five years if the country tackles corruption and deep-rooted governance failures. A so-called diagnostic report calls for reforms to taxation, procurement and oversight of Pakistan’s revenue authority. The IMF-World Bank report, which was uploaded […]
Finmin says IMF can’t impose conditions against Pakistan’s interests
Finance Minister Muhammad Aurangzeb has said that the International Monetary Fund (IMF) cannot impose any condition that goes against Pakistan’s national interest, stressing that all ongoing economic reforms are guided by the country’s own priorities. “The IMF cannot put any condition that goes against Pakistan’s national interest,” said Aurangzeb while addressing a press conference in […]
Pakistan, IMF reach deal over another $1.2bn in loans
The International Monetary Fund (IMF) staff and the Pakistani have reached a staff-level agreement on the second review under Pakistan’s Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF). Upon approval by IMF Executive Board, Pakistan would have access to about US$1.0 billion (SDR 760 million) under the EFF […]
Aurangzeb aims to seal IMF staff-level agreement during Washington visit
Finance Minister Muhammad Aurangzeb said Pakistan has held “very constructive engagement” with the International Monetary Fund (IMF) mission, expressing confidence that the remaining issues are not “showstoppers”. He expressed hope of finalising a staff-level agreement (SLA) early next week during his visit to Washington with the State Bank of Pakistan (SBP) governor and finance secretary. […]
IMF, Pakistan make ‘significant progress’ on $8.4bn loan reviews
Pakistan and the International Monetary Fund (IMF) have made “significant progress” toward a staff-level agreement on reviews of the South Asian country’s $8.4 loans, the lender said late Wednesday. The statement came at the end of a two-week visit by an IMF mission, led by Iva Petrova, to Karachi and Islamabad to review a $7 […]