No Result
View All Result
Monday, June 30, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

    Sardaar Ji 3

    ‘Sardaar Ji 3’ outperforms Salman Khan’s ‘Sultan’ on opening day

    Shefali Jariwala

    Paras Chhabra’s prediction about Shefali Jariwala’s sudden death goes viral

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

    Sardaar Ji 3

    ‘Sardaar Ji 3’ outperforms Salman Khan’s ‘Sultan’ on opening day

    Shefali Jariwala

    Paras Chhabra’s prediction about Shefali Jariwala’s sudden death goes viral

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Uncategorized

Pakistan, IMF reach staff-level agreement to revive $6 billion loan

MM News Staff by MM News Staff
November 22, 2021
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement. Source: FILE.

Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement. Source: FILE.

WASHINGTON: Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement to revive the $6 billion Extended Fund Facility (EFF) suspended in April this year.

“The Pakistani authorities and IMF staff have reached a staff-level agreement on policies and reforms needed to complete the sixth review under the EFF,” read a statement issued by the Fund, adding that the agreement is “subject to approval by the Executive Board, following the implementation of prior actions, notably on fiscal and institutional reforms”.

“Completion of the review would make available SDR 750 million (about US$1,059 million), bringing total disbursements under the EFF to about US$3,027 million and helping unlock significant funding from bilateral and multilateral partners.”

“An additional SDR 1,015.5 million (about US$1,386 million) was disbursed in April 2020 to help Pakistan address the economic impact of the COVID-19 shock.”

The IMF noted that despite a “difficult environment”, progress continues to be made in the implementation of the EFF-supported programme. All quantitative performance criteria (PCs) for end-June were met with wide margins, except for that on the primary budget deficit, it added.

“Notable achievements on the structural front include the finalization of the National Socio-Economic Registry (NSER) update, parliamentary adoption of the National Electric Power Regulatory Authority (NEPRA) Act Amendments, notification of all pending quarterly power tariff adjustments, and payment of the first tranche of outstanding arrears to independent power producers (IPPs) to unlock lower capacity payments fixed in renegotiated power purchase agreements (PPAs),” the statement said.

“The authorities have also made progress in improving the anti-money laundering and combating the financing of terrorism (AML/CFT) framework, although some additional time is needed to strengthen its effectiveness.

On the macroeconomic front, available data suggest that a strong economic recovery has gained hold, benefiting from the authorities’ multifaceted policy response to the COVID-19 pandemic that has helped contain its human and macroeconomic ramifications.

The Federal Board of Revenue’s (FBR) tax revenue collection has been strong. At the same time, external pressures have started to emerge: a widening of the current account deficit and depreciation pressures on the exchange rate—mainly reflecting the compound effects of the stronger economic activity, an expansionary macroeconomic policy mix, and higher international commodity prices.

In response, the authorities have started to adjust policies, including by gradually unwinding COVID-related stimulus measures. The State Bank of Pakistan (SBP) has also taken the right steps by starting to reverse the accommodative monetary policy stance, strengthening some macroprudential measures to contain consumer credit growth, and providing forward guidance.

In addition, the government plans to introduce a package of fiscal measures targeting a small reduction of the primary deficit with respect to last fiscal year based on: (i) high-quality revenue measures to make the tax system simpler and fairer (including through the adoption of reforms to the GST system); and (ii) prudent spending restraint, while fully protecting social spending.

These policies will help safeguard the positive near-term outlook, with growth projected to reach, or exceed, 4 percent in FY 2022 and 4.5 percent the fiscal year after that. However, inflation remains high, although it should start to see a declining trend once the pass-through of rupee depreciation is absorbed, and temporary supply-side constraints and demand-side pressures dissipate.

The current account is expected to widen this fiscal year despite some export growth, reflecting the rising import demand and international commodity prices. However, this economic outlook continues to face elevated domestic and external risks, while structural economic challenges persist.”

ShareTweetSendShare
Previous Post

Chinese tennis star says she is safe in video call with Olympic official

Next Post

Biker killed as speeding car overturns in Karachi

Related Stories

Justice Sardar Muham­mad Sarfraz Dogar
Uncategorized

Justice Dogar notified as senior-most IHC judge in revised seniority list

June 29, 2025
File photo
Business & Stock

FBR, banks to share data to curb tax evasion

June 26, 2025
File photo
Uncategorized

MDCAT 2025: Expected entry test date in Pakistan announced

June 25, 2025
File photo
Uncategorized

Hunza’s Lexus hotel hit by flash flood

June 25, 2025
File photo
Uncategorized

Malala Yousafzai launches ‘Recess’ to empower women and girls through sports

June 25, 2025
Representational image
Transport

Monsoon rains: PAA issues advisory to pilots over birds

June 25, 2025
SC
Uncategorized

Supreme Court reduces LLB duration to four years

June 25, 2025
File photo.
Uncategorized

SUPARCO predicts Muharram 2005 moon sighting date in Pakistan 

June 24, 2025
(File Photo)
Uncategorized

Actor Yasir Nawaz’s brother Waqar Nawaz passes away

June 24, 2025
In this file photo, a man walks along a dried-up stretch of land in Balochistan. (Image: Asim Khan via Dawn.com)
Uncategorized

Asia warming nearly twice as fast as global average: report

June 24, 2025
Next Post
The accident occurred near Drigh Road. Source: Twitter.

Biker killed as speeding car overturns in Karachi

Leave a Reply Cancel reply

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

Trending Stories

An egregious example of arrogance and haughtiness: Senior politician Manzoor Wattoo offered funeral prayers while sitting in an air-conditioned vehicle
Trending

Sheer arrogance: Ex-CM Punjab Manzoor Watto offers funeral prayers from his car

by MM News Staff
June 29, 2025
This development came after Minister of State for Interior Talal Chaudhry's recent visit to Spain where he met his counterpart, Fernando Grande-Marlaska. (Image: PTV News/File)
Crime

Two Pakistan-wanted fugitives arrested in Spain

by MM News Staff
June 29, 2025
Phone 17 Air: Cutting-Edge Features in Apple’s Thinnest Phone Yet
Technology

Will the iPhone 17 Air be worth the hype? Here’s what to expect from Apple’s thinnest phone

by Zaka Khan
June 29, 2025
Squid Game 3 released on June 27, on Netflix.
Film & TV

Squid Game Season 3: Stream it or skip it?

by MM News Staff
June 29, 2025
(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rain
Top News

Monsoon showers hit Karachi, more rain expected in coming hours

by MM News Staff
June 28, 2025

Rainfall has begun this morning in Karachi, with reports of light to moderate rain...

file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
File photo

Karachi receives heavy rain with thunderstorm

June 26, 2025
See all

Prices

Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Latest prices of solar panels in Pakistan – June 2025

by MM News Staff
June 29, 2025

The federal government of Pakistan has imposed 10% sales tax on solar panels that...

representative image

Latest gold prices in Pakistan today- June 29, 2025

June 29, 2025
representative image

Gold prices further drop in Pakistan

June 28, 2025
Foreign Currency

Foreign currency exchange rates in Pakistan, 28 June 2025

June 28, 2025
See all

Transport News

(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

The Punjab government has approved a record-breaking development package worth Rs.150.0 billion for Rawalpindi...

file photo

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Maryam Nawaz

Maryam Nawaz orders 240 electric buses for South Punjab districts

June 28, 2025

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.