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China gives Pakistan one-year extension on $2bn loan repayment
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[ad_1] US One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. — Reuters ISLAMABAD: In a major development, China rolled over $2 billion loan to Pakistan for one year, confirmed the Ministry of Finance on Saturday. According to the ministry, the loan was originally due for…
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$500mn ADB loan deal struck to strengthen Pakistan’s climate resilience
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[ad_1] Secretary of the Ministry of Economic Affairs, Dr Kazim Niaz and ADB Country Director, Ms Emma Fan signing the loan agreement during a ceremony attended by senior government and ADB officials on Tuesday. —APP ISLAMABAD: Pakistan on Tuesday secured a $500 million loan from the Asian Development Bank (ADB) for the Climate and Disaster…
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ADB okays $500m loan to boost Pakistan’s climate, disaster resilience
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[ad_1] People retrieve bamboos from a damaged house following rains and floods during the monsoon season in Dera Allah Yar, district Jafferabad, Balochistan, Pakistan August 25, 2022. — Reuters Under the Climate and Disaster Resilience Enhancement Programme (CDREP), the Asian Development Bank (ADB) approved a $500 million policy-based loan to support climate change and disaster…
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SBP receives first tranche under IMF’s $7bn loan programme
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[ad_1] The logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters The State Bank of Pakistan (SBP) received the first tranche of SDR 760 million (approximately $1.03 billion) from the International Monetary Fund (IMF) on Friday as part…
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IMF board approves $7bn loan programme for Pakistan
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[ad_1] This file photo taken on January 26, 2022, shows the seal for the International Monetary Fund (IMF) in Washington, DC. — AFP WASHINGTON: The International Monetary Fund’s (IMF) Executive Board has greenlighted a 37-month $7 billion Extended Fund Facility (EFF) for Pakistan, with the incumbent government hoping that it would be the country’s last.…
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Aurangzeb upbeat on IMF board’s nod for $7bn loan programme tomorrow
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[ad_1] Federal Finance Minister Senator Muhammad Aurangzeb addressingn a press conference. — APP/File Federal Finance Minister Senator Muhammad Aurangzeb expressed confidence on Tuesday that the International Monetary Fund (IMF) Board will sanction the $7 billion, 37-month loan deal, for Pakistan during its meeting tomorrow (Wednesday). “Pakistan successfully concluded a 9-month SBA (Stand-by Arrangement) with IMF…
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ADB approves $320m loan to support KP roads rehabilitation
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[ad_1] An image showing a truck moving on a road. — Reuters/File ISLAMABAD: The Asian Development Bank (ADB) has approved a $320 million loan to support the rehabilitation of roads in Khyber Pakhtunkhwa to enhance road safety and all-weather connectivity in rural areas. According to ADB press release issued on Friday, the Khyber Pakhtunkhwa Rural Roads…
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IMF board to review Pakistan loan programme on Sept 25
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[ad_1] This file photo taken on January 26, 2022, shows the seal for the International Monetary Fund (IMF) in Washington, DC. — AFP The International Monetary Fund (IMF) has finally included Pakistan on its Executive Board agenda scheduled for September 25, with Prime Minister Shehbaz Sharif lauding friendly nations’ all-out support to help Islamabad in…
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IMF board to review Pakistan’s $7b loan on September 25 after key conditions met | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has confirmed that its Executive Board will meet on September 25 to discuss the approval of Pakistan’s $7 billion Extended Fund Facility (EFF). The loan is crucial for stabilising Pakistan’s economy, which has been grappling with rising inflation and dwindling reserves. IMF spokesperson Julie Kozack announced the meeting…
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PSX remains subdued amid IMF loan delay | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) experienced a lacklustre week, marked by limited activity and thin losses of around 300 points due to worries over Pakistan’s exclusion from the International Monetary Fund (IMF) executive board meeting agenda for August. The market also remained subdued because of rollover of investor positions at month end and security…
