The International Monetary Fund confirmed reaching a staff level agreement with Pakistan, which is a $6-billion three-year extended Fund facility to support Pakistan’s economic reforms. According to IMF’s communication department official Gerry Rice, the programme is aimed at reducing public debt, and helping Pakistan get back on the path to sustainable and more inclusive growth. […]

KARACHI: State Bank of Pakistan Governor Reza Baqir on Monday said the country has fulfilled all commitments made to the International Monetary Fund (IMF), paving the way for formal approval of the loan programme on July 3. “The SBP has fulfilled all the commitments made with the IMF,” the governor said while addressing his maiden news […]

In a panel discussion with economists on the economic future of Pakistan, former finance minister Asad Umar acknowledged that striking a deal with the International Monetary Fund (IMF) was unavoidable. He, however, defended the government’s attempts at procuring a different route for the economy prior to the agreement. Umar, who currently oversees the National Assembly […]

WASHINGTON: Pakistan’s gross financing needs during 2019 increased to 42.3 per cent of GDP as budget deficit increased to 7pc and maturing debt widened to 35.1pc of the GDP, data released by the International Monetary Fund (IMF) showed on Tuesday. The IMF in its fiscal monitor for April said that, “in Pakistan, the overall deficit […]

IN the summer of 1991, a series of chartered flights left India carrying nearly 70 tons of the government’s gold. In what was seen as a national humiliation, much of the treasure made its way to the vaults of the Bank of England and the Union Bank of Switzerland. Some was sold, and some was […]

Talks between Pakistan and the IMF broke down late last year due to the IMF’s demand for a significant increase in interest rate to contain inflation, hike in electricity and gas tariffs, adoption of a totally free exchange rate regime and ensuring primary fiscal balance. PHOTO: FILE Talks between Pakistan and the IMF broke down […]

KARACHI: Pakistan Business Council (PBC) has launched 100-day economic agenda for the upcoming government. PBC Chief Executive Ehsan Malik said relying on short-term loans is not sustainable and an IMF programme is inevitable. The opposition and the government must take this opportunity to work together to revive domestic manufacturing. He said short-term solutions aim only […]

ISLAMABAD – Pakistan Tehreek-e-Insaf (PTI), the government in-waiting, is seriously contemplating various alternative plans to avoid International Monetary Fund (IMF) programme which according to PTI would hit its economic plan especially generating employment opportunities. PTI chairman Imran Khan, who is all set to become next Prime Minister on August 18, has reportedly asked Asad Umar […]

ISLAMABAD: Amid a policy decision on Friday to allow rupee depreciation, Pakistan and an International Mone­tary Fund (IMF) delegation concluded the first round of discussions on the country’s economy. Now members of the IMF delegation and Pakistan team are taking a two-day break to prepare for the policy-level wrap-up by Dec 13-14. A senior official told […]

ISLAMABAD: Pakistan plans launching another international bond in about 45 days to manage external vulnerabilities and said it would do everything possible not to go for another IMF programme in any circumstances. This came on the conclusion of 10-day comprehensive talks with the International Monetary Fund that identified a couple of near-term challenges mostly arising […]