Connect with us

Hi, what are you looking for?

World

IMF greenlights $1.1 billion loan tranche for Pakistan

IMF Approves Final Tranche for Pakistan

The International Monetary Fund (IMF) Executive Board’s decision on Monday came after the global lender completed the second and final review of Pakistan’s economic reform programme supported by the IMF’s Stand-By Arrangement (SBA). The IMF has approved an immediate disbursal of the final tranche of $1.1 billion to Pakistan as part of a bailout package, emphasising that the cash-strapped country needs to take tough measures to bring its economy back on track.

Key Points:

  • Disbursements under the SBA reached around $3 billion.
  • All board members favoured the release of the last installment.
  • India abstained from voting.

IMF’s Deputy Managing Director Antoinette Sayeh highlighted the importance of capitalizing on stability and implementing sound macroeconomic policies and structural reforms for sustainable growth. Continued external support and reforms in state-owned enterprises were emphasized.

Future Plans and Challenges:

Sayeh stressed the need for market-determined exchange rates, broadening structural reforms, addressing undercapitalized financial institutions, and ensuring financial stability. Prime Minister Shehbaz Sharif’s meeting with IMF Managing Director Kristalina Georgieva discussed the potential for a new IMF programme to support the economy.

An IMF team is expected to visit Pakistan in May to discuss a new long-term Extended Fund Facility (EFF) ranging between $6 to $8 billion. Former Prime Minister Shahid Khaqan Abbasi expressed concerns over negative economic indicators and the impact of IMF agreements on growth and inflation.

The $350 billion economy faces a balance of payments crisis with significant debt repayment obligations in the upcoming fiscal year.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Masha Media News.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

You May Also Like

Lifestyle

Understanding Postpartum Psychosis Postpartum psychosis is a mental illness that affects new mothers, with symptoms that can vary from sudden onset severe depression to...

Sports

Sebastian Vettel Considering Formula One Comeback Four-time world champion Sebastian Vettel has hinted at a potential return to Formula One after revealing discussions with...

Politics

Labour’s Environmental Policy Update Labour remains confident about their record on environmental policy, despite recent drama over the decision to drop the £28bn price...

World

Investment in Guyana Defence Force In a significant move aimed at bolstering the capabilities of the Guyana Defence Force (GDF), the Guyana Government has...

Politics

The Reinstatement of Diane Abbott in the Labour Party The decision to restore the Labour whip to Diane Abbott followed discontent among front benchers...

World

Spain, Ireland, and Norway Recognize Palestinian Statehood Spain, Ireland, and Norway have formally recognized Palestinian statehood in an effort to push for a diplomatic...

Politics

Conservative MP Criticizes Premier League Boss A senior Conservative MP has criticized the boss of the Premier League for referring to “small clubs” and...

World

Genesis and Gemini Repayment to Retail Customers Genesis, a bankrupt cryptocurrency lender, and Gemini, a cryptocurrency exchange, have successfully repaid over $2 billion in...

World

Concerns in Guadeloupe City In March, Pointe-a-Pitre mayor Harry Durimel highlighted the increase in minors involved in criminal activities, with a significant rise from...

Sports

Former Dublin GAA Star Diarmuid Connolly Involved in Assault Case Former Dublin GAA star Diarmuid Connolly was accused of assaulting two men in an...

Politics

A Call for Increased Accountability in Cycling It was a dark wet night on Victoria Street in London. Whoosh and he was gone. Dark...

Sports

Kieran McKenna Commits to Leading Ipswich Town into Premier League Kieran McKenna expresses his excitement in leading Ipswich into the Premier League after signing...

Copyright © 2024 STRIPESDAILY.COM. All rights reserved. StripesDaily is dedicated to offering news and information. This platform provides news content and emphasizes that information should be verified independently. Before making decisions based on news reports, we encourage readers to seek additional sources. For those over 18 and interested in specific content areas: Please be aware that content relevance may vary by location; adhere to your local laws and guidelines. By using this site, you agree to our terms, including the acknowledgment of our editorial policies.