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Pakistan ‘hopes’ to secure IMF deal ahead of budget as funding gap narrows
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[ad_1] The seal for the International Monetary Fund is seen in Washington, DC, January 10, 2022. — AFP Pakistan is seeking to secure $2 billion in external financing to bridge the $6 billion gap for resuming the stalled International Monetary Fund (IMF) bailout programme ahead of the federal budget, Bloomberg reported. The Ministry of Finance,…
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Pakistan to seal IMF deal this month: PM Shehbaz
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[ad_1] Prime Minister Shehbaz Sharif. — AFP/File Prime Minister Shehbaz Sharif on Monday expressed hope that Pakistan would finalise the much-awaited loan deal with the International Monetary Fund (IMF) this month. In an exclusive interview with Turkish news agency Anadolu, the premier said the ninth review by the IMF will match all terms and conditions,…
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Pakistan ‘very hopeful’ of sealing IMF deal in June: PM Shehbaz | The Express Tribune
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[ad_1] ANKARA: Pakistan is “very hopeful” of finalising a deal with the International Monetary Fund (IMF) this month, according to Prime Minister Shehbaz Sharif. “We are still very hopeful that the IMF programme will materialise. Our ninth review by the IMF will match all terms and conditions and, hopefully, we’ll have some good news this…
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Foreign exchange reserves decline to $4.09bn as Pakistan considers fresh IMF deal
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[ad_1] $100 bills. — AFP/File Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased to $4.09 billion as the liquidity-challenged country mulls starting a fresh bailout programme with the International Monetary Fund (IMF) programme without completing the current one. In a statement, the SBP said its reserves have fallen $102 million…
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Pakistan keen to cut a ‘new’ IMF deal | The Express Tribune
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[ad_1] ISLAMABAD: Amid a stalemate on securing a bailout from the International Monetary Fund (IMF), Prime Minister Shehbaz Sharif has informed fund’s Managing Director Kristalina Georgieva about Pakistan’s intention to secure a new bailout. Moreover, Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha on Wednesday criticised IMF mission chief Nathan Porter’s comment…
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Debt suspension deal with Korea signed | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Korea have signed a Debt Service Suspension Agreement. This agreement allows for the deferment of loan payments worth $19.911 million under the G-20 Debt Service Suspension Initiative (DSSI). Originally scheduled to be repaid between July and December 2021, the repayment will now be spread over six years, with a one-year grace…
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Ishaq Dar asserts Pakistan will not default even without IMF deal
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[ad_1] Minister for Finance and Revenue Ishaq Dar chairs a meeting of the Economic Coordination Committee on May 10, 2023. — Twitter Days after Moody’s International Service warned of the possibility that Pakistan could default, Finance Minister Ishaq Dar rubbished what he termed as “rumours” on Thursday. Addressing the Islamabad Security Dialogue, he asserted that…
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Budget preparation ‘hits snag’ over delay in IMF deal
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[ad_1] A representational image. — Unsplash ISLAMABAD: Preparations for the upcoming budget have been hampered due to the delay in an agreement with the International Monetary Fund (IMF), sources told Geo News Saturday. Due to the economic and political uncertainty in the country, the Budget Strategy Paper (BSP), which was scheduled to be approved by…
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ENI earned $500 million after reneging on Pakistan deal: report
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[ad_1] A logo of the ENI company is displayed outside its office in Milan. — AFP/File As international prices spiked and Pakistan faced an energy crisis, one of its long-term liquified natural gas (LNG) suppliers ENI earned $500 million by partially backtracking on contractual obligations and selling the cargoes to Turkey instead. The Italian company…
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Ishaq Dar hopes IMF will soon sign deal with Pakistan as ‘all conditions fulfiled’
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP ISLAMABAD: Finance Minister Ishaq Dar on Monday said that Saudi Arabia and United Arab Emirates (UAE) have assured their commitments to provide $3 billion to Pakistan, hoping that the inflation-stricken country will soon seal the deal with the International…
