Archive

IMF

Banks deferred Rs.651 billion loan payments for one year: IMF

ISLAMABAD: The International Monetary Fund (IMF) has said banks deferred a total of Rs. 651 billion of principal on loans for one year to maintain the banking system and sustain economic activity. This was done under the State Bank of

Coronavirus may narrow current global imbalances: IMF

WASHINGTON: The International Monetary Fund (IMF) has stated that global current account imbalances narrowed in 2019 as trade slowed. According to the IMF, coronavirus could further narrow the current account in 2020 but some commodity exporters and tourism-dependent countries will

US economy will drop 6.6% in 2020 amid pandemic: IMF

WASHINGTON: The International Monetary Fund has predicted that the United States economy will shrink 6.6 percent this year, pounded by the coronavirus pandemic and the lockdowns enforced to contain it. The grim forecast is an upgrade from one the IMF

Pakistan, IMF agree to raise govt employees salaries in budget

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have finally reached consensus over increase in salaries of government employees in the upcoming 2020-21 fiscal year budget. The third round of budget talks between Pakistan and the global financial institution was

IMF emergency loan

Amid the ongoing economic slump due to the coronavirus pandemic, Pakistan received a breather when the IMF approved a nearly $1.4 billion emergency loan. This will certainly cushion against the economic fallout and meet the balance of payment for a

Stock market soars by 1500 points as IMF provides debt relief

KARACHI: The Pakistan Stock Exchange (PSX) soared on Friday as the stock market reacted positively that the International Monetary Fund (IMF) has approved a $1.384 disbursement for Pakistan to deal with the coronavirus pandemic. The benchmark KSE 100 index increased

FM Qureshi discusses debt relief initiative with IMF representative

ISLAMABAD: Foreign Minister Makhdoom Shah Mahmood Qureshi held a meeting with the resident representative of International Monitory Fund (IMF) Ms Teresa Daban Sanchez. discussing the aftermath of the COVID-19 pandemic. While acknowledging the important role of the IMF, the foreign

IMF approves $1.386 billion disbursement for Pakistan

WASHINGTON: The International Monetary Fund has approved $1.386 billion disbursement to Pakistan under the Rapid Financing Instrument to address the economic impact of COVID-19 pandemic. According to a statement, the Executive Board of the IMF approved the funds to meet

The Great Lockdown

It is being now referred to as the ‘Great Lockdown’ as the economic situation could be similar to the ‘Great Depression’ over ninety years ago. The IMF and the World Bank have now forecast the worst recession for countries around

IMF forecasts negative 1.5 percent growth in Pakistan this year

WASHINGTON: The International Monetary Fund (IMF) has projected a steep economic recession for Pakistan during the ongoing coronavirus pandemic being referred to as ‘The Great Lockdown’ and could contract the global economy this year. In the annual World Economic Outlook

IMF to provide debt relief to 25 countries amid coronavirus

(REUTERS): The International Monetary Fund has announced to provide immediate debt relief to 25 member countries to allow them to focus more financial resources on fighting the coronavirus pandemic. According to the statement issued by the IMF, the debt relief

World faces worst crisis since Great Depression: IMF chief

WASHINGTON: The global coronavirus pandemic has inflicted an economic crisis unlike any in the past century and will require a massive response to ensure recovery, said IMF chief Kristalina Georgieva. The International Monetary Fund expects global growth will turn sharply

FATF, IMF relief

Amid the ongoing gloom and doom due to coronavirus pandemic, it is hard to even imagine any temporary relief and glad tiding. Global trade is expected to fall by one third and the world is in the midst of a

Lebanon’s Hezbollah can accept IMF aid under conditions: Chief

Lebanon’s Hezbollah movement has asserted that it could accept Beirut receiving aid from International Monetary Fund (IMF) under reasonable conditions. Hezbollah movement strongly opposed foreign interference in the country’s crisis-hit economy. Hezbollah movement Chief Hassan Nasrallah said in a statement,

IMF’s positive outlook

The visiting delegation of the IMF has concluded its ten-day Pakistan visit to review the country’s economic performance over the $6 billion bailout package. The economic team held its nerve during the tough negotiations but it appears that the talks

Pakistan and IMF – An overview of bailout package

The visiting delegation of the International Monetary Fund (IMF) has concluded that Pakistan has achieved all its economic goals in terms of performance and the structural benchmark has been completed. An IMF mission, led by Ernesto Ramirez Rigo, was in

Pakistan has made considerable progress in advancing reforms: IMF

ISLAMABAD/ WASHINGTON: Pakistan has achieved all of its economic goals in terms of performance and structural benchmarks have been completed, according to the International Monetary Fund (IMF). An International Monetary Fund (IMF) mission, led by Ernesto Ramirez Rigo was in

Shabbar Zaidi’s exit

It seems that FBR chairman Shabbar Zaidi, who was brought with much optimism to spearhead the PTI government’s tax reforms, might be on his way out. The tax authority has failed to meet the tax revenue target in line with

IMF informs coronavirus may effect on Pakistan’s economy

ISLAMABAD: The International Monetary Fund (IMF) raised serious concerns on Monday about the effects of coronavirus on Pakistan’s economy, as a negative impact of halting the Chinese economy may adversely affect the GDP growth plans of Islamabad for the current

Govt urges IMF to ease condition of increasing electricity tariffs

ISLAMABAD: Pakistan has insisted on the International Monetary Fund (IMF) to relieve the condition of an urgent rise in energy prices due to inflation already double-digit and adverse political conditions. An ever-expanding circular debt remains another vulnerable area in the

New IMF terms: Will inflation increase in Pakistan?

A delegation of the International Monetary Fund (IMF) has arrived in Islamabad for the second review of the economic situation of the bailout package given to Pakistan. IMF and the Federal Board of Revenue could not agree to lower down

Mini-budget

An IMF delegation is in Islamabad for the second review of the economic situation for the bailout package given to Pakistan last year. The talks are expected to last for around two weeks and on completion, the IMF could release

Pakistan, IMF to hold talks today in Islamabad

ISLAMABAD: A delegation of the International Monetary Fund (IMF) has reached in Islamabad for talks with authorities on the release of the third tranche of the $6 billion bailout package for Pakistan. According to sources, the IMF delegation will hold

IMF to begin talks under $6 billion EFF from February 3

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) expected to start negotiations on the second review under the US$ 6 billion Extended Fund Facility (EFF) beginning on February 3. The meeting was verified on Thursday by IMF representative Teresa Daban

IMF asks Kuwait to bring new tax reforms

DUBAI: On Monday the International Monetary Fund (IMF) urged Opec member Kuwait to implement a reform package that includes Imposing taxes and phasing out subsidies to bridge a persistent budget deficit. Kuwait, which is largely dependent on oil for nearly

PM meets GAVI chief, IMF President in Davos

DAVOS: Prime Minister Imran Khan has met CEO Global Vaccine Alliance (Gavi) Mr Seth Berkley on sidelines of World Economic Forum (WEF) annual meeting at Davos. Special Assistant to the PM Syed Zulfiqar Abbas Bukhari, Ambassador at Large on Investments

Cargo import, export reaches 66,600 tones at Khunjerab Pass

ISLAMABAD: The Federal Ministry for Information on Monday has said that import and export with China have reached 66,600 tones in the first eleven months at Khjunrab  Pass in northwest China’s Xinjiang region. In a twitter message, the Ministry for

PTI govt pleased over IMF’s economic indicators

ISLAMABAD: Federal Finance Ministry of Pakistan on Sunday has said that the government is doing “much better” than projected by the IMF on most macroeconomic indicators, including its rate of inflation. The spokesman of the finance ministry said, there has

Debt of Pakistan declined from 88 to 84%, states IMF

ISLAMABAD: The International Monetary Fund (IMF) stated that the debt of Pakistan which included collateral mortgage and IMF has declined by four percent. A recent report published by the IMF stated that Pakistan’s debt was reduced from 88 percent to

IMF report and boosting exports

Pakistan’s economy is stablising and the IMF has approved a new tranche worth $452 million of the bailout package. It seems that everything is fine on the economic front. The central bank wants the country to come out of the

<