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Pakistan ‘making good progress’ for IMF $7bn loan deal approval in September: FinMin
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[ad_1] Finance Minister Muhammad Aurangzeb presents Federal Budget 2024-2025 before the National Assembly. — INP/File Finance Minister Muhammad Aurangzeb has said that the government hopes to get approval for a new $7 billion loan programme from the International Monetary Fund’s (IMF) board in September, saying that its engagement with the Fund is progressing well. “We…
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FinMin optimistic of securing $7bn IMF loan deal this month
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[ad_1] Finance Minister Muhammad Aurangzeb speaks during an interview. — APP/File Minister for Finance and Revenue Senator Muhammad Aurangzeb has exhibited confidence in the International Monetary Fund’s (IMF) Board of Directors that it will approve the staff-level agreement with Pakistan by the end of August. Addressing the “Climate Action for Pakistan” event organised by Acumen…
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WB says assessing impact of unfolding situation in Bangladesh on loan programme
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[ad_1] Anti-government protestors display Bangladesh’s national flag as they storm Prime Minister Sheikh Hasina’s palace in Dhaka on August 5, 2024. — AFP WASHINGTON: The World Bank on Monday said it was assessing the impact of events in Bangladesh on its loan programme with the country after its Prime Minister Sheikh Hasina resigned and fled.…
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PPP govt borrowed largest IMF loan; PTI paid highest interest: document
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[ad_1] The International Monetary Fund’s logo is seen outside the global lender’s headquarters in Washington, US, April 20, 2018.— Reuters ISLAMABAD: An official document has revealed that the Pakistan Peoples Party’s (PPP) government (2008-13), holds the record for the largest borrowings from the International Monetary Fund (IMF), while the Pakistan Tehreek-e-Insaf (PTI) administration (2018-22), paid…
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Pakistan secures $400 million loan from ADB for flood recovery | The Express Tribune
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[ad_1] The Asian Development Bank (ADB) has approved a $400 million concessional loan to support the reconstruction of houses and community infrastructure in Sindh province which was severely affected by the 2022 floods. The Sindh Emergency Housing Reconstruction Project aims to rehabilitate damaged homes and community infrastructure, with a focus on enhancing climate resilience. The initiative…
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FM Aurangzeb heads to China to reschedule $15 billion energy loan | The Express Tribune
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[ad_1] Federal Finance Minister Mohammad Aurangzeb is set to embark on a three-day visit to China today, aiming to discuss the rescheduling of a $15 billion energy loan. According to sources from the Ministry of Finance, a joint working group may be established between Pakistan and China to facilitate the loan rescheduling. The discussions will…
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Pakistan, IMF reach SLA on new $7bn loan deal
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[ad_1] The International Monetary Fund’s (IMF) logo. — AFP/File WASHINGTON: In a major development, Pakistan and the International Monetary Fund (IMF) reached a three-year, $7 billion aid package deal, giving much-needed respite to the cash-strapped country, the Washington-based institution said on Friday. The new program, which needs to be validated by the fund’s Executive Board,…
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PIA blamed for violation of loan conditions | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s economic managers have voiced concern over alleged violation of the terms of a loan acquired by Pakistan International Airlines (PIA) to address the financial challenges faced by Roosevelt Hotel, New York, which is owned by the airline. Sources told The Express Tribune that the matter was taken up during a recent meeting…
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Pakistan, Kuwait to sign loan agreement of $25 million
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[ad_1] Representational image of workers at dam construction site. — Reuters Pakistan and Kuwait have decided to sign a loan agreement worth $25 million in the 5th session of the Pakistan-Kuwait Joint Ministerial Commission (JMC) convened in Kuwait. The key outcomes of the session included the agreement to sign a loan agreement for $25 million…
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Pakistan, Kuwait to sign $25m loan agreement | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Kuwait signed a loan agreement worth $25 million during the 5th session of the Pakistan-Kuwait Joint Ministerial Commission (JMC) in Kuwait. This session, held from May 28 to May 30, 2024, marked significant progress in strengthening bilateral ties. The agreement for the loan, intended for the Mohmand Dam, will be signed…
