IMF-Pakistan talks delayed
ISLAMABAD: Progress in talks between Pakistan and the International Monetary Fund has stalled due to delay in accepting the demands of the IMF. The economic team is also awaiting orders from Prime Minister Shahbaz Sharif. According to details, the talks
Inflation in Pakistan won’t decline till the end of current fiscal year: IMF
In yet another bad news for already suffering people, the International Monetary Fund (IMF) said that the inflation wouldn’t come down till the end of the current fiscal year. According to the IMF s Regional Economic Outlook Report, inflation in
IMF forecasts Pakistan’s real GDP to grow at 4% in FY22
ISLAMABAD: The International Monetary Fund (IMF) has released the World Economic Outlook Report. The IMF’s World Economic Outlook report predicts that Pakistan s economic growth, inflation and current account deficit targets will not be met this year. According to the
IMF says rising oil prices are challenge for Pakistan
ISLAMABAD: The Spokesperson for the International Monetary Fund (IMF) Gerry Rice on Saturday said that Pakistan’s economy is facing external challenges. In an online news conference the IMF spokesperson said that discipline must be ensured and economic goals must be
IMF objects to PM Imran Khan’s relief package
ISLAMABAD: Talks between Pakistan and International Monetary Fund (IMF) reached an impasse after the latter raised concerns over Prime Minister Imran Khan’s relief package. Sources familiar with the development said that the global lender raised serious objections over the Prime
Pakistan receives $1bn loan tranche from IMF
KARACHI: Following the successful completion of the 6th review under the Extended Fund Facility (EFF), Pakistan has received $1.053 billion tranche from the International Monetary Fund (IMF). The central bank confirmed on Twitter, “Following the successful completion of the 6th
IMF defers review of tranche for Pakistan
ISLAMABAD: On the request of Pakistan, the International Monetary Fund (IMF) has postponed considering 6th review under the Extended Fund Facility (EFF) for Pakistan during its executive board meeting scheduled for January 12 as Islamabad is yet to complete all
Mini budget: Will new taxes affect the people?
Prime Minister Imran Khan has convened a meeting of the federal cabinet tomorrow in which the mini-budget will be approved. A mini budget that includes the IMF’s strictest conditions, which are likely to make electricity and petrol more expensive. IMF’s
Overseas Pakistanis benefitted from exchange rate depreciation: SBP Governor
ISLAMABAD: State Bank Governor Reza Baqir, has said that depreciation of the rupee against the US dollar had benefitted overseas Pakistanis sending remittances to the country. Addressing a press conference in Manchester, SBP Governor revealed that, “The number of remittances
Negotiations with Pakistan have entered right direction: IMF
The International Monetary Fund (IMF) has said that negotiations with Pakistan on obtaining a loan have entered the right direction. According to details, IMF Director Jihad Azour during a press conference said that the sixth round of talks with Pakistan on
Shaukat Tareen turns down news of talks with IMF being failed
ISLAMABAD: Shaukat Tareen, head of the federal government’s economic team, has termed the news of talks with the International Monetary Fund (IMF) as a failure as baseless. In this regard, State Bank Governor Raza Baqir has also expressed hope for
Pakistan fails to strike agreement with IMF
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have so far failed to strike staff-level agreement under $6 billion Extended Fund Facility (EFF) for the release of the next tranche. According to reports, the fresh round of talks from October
Power tariff hike
The government has approved a massive hike of Rs1.39 per unit in power tariffs from next month. This was the long-standing demand of the IMF for the bailout package and it seems the government has finally caved in before the
IMF predicts Pakistan’s GDP to grow 4pc in FY22
ISLAMABAD: The International Monetary Fund (IMF) predicts Pakistan’s GDP to grow by 4pc in fiscal year 2021-22. The International Monetary Fund (IMF) on Tuesday predicted in its report the inadequate growth rate of four per cent for Pakistan. Earlier, the
IMF suspends Afghanistan’s access due to the uncertain situation
The International Monetary Fund (IMF) has announced that it will suspend funding to Afghanistan due to the uncertain situation. The IMF spokesman said that the IMF always seeks guidance from the international community. Due to the uncertain situation, the country
Pakistan to receive $2.77bn from IMF on Aug 23
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin said that Pakistan would receive $2.77 billion on August 23 from the International Monetary Fund’s (IMF) general allocations of $650 billion that had been approved to boost global liquidity amid the
IMF revises Pakistan’s real GDP growth of 3.9%
WASHINGTON: The International Monetary Fund (IMF) has revised Pakistan’s real Gross Domestic Product (GDP) growth rate of 3.9%. In its updated World Economic Outlook report 2021, the IMF also acknowledged Pakistan’s robust economic performance and said that “Projections are revised
IMF’s flexibility
Finance Minister Shaukat Tarin has announced that Pakistan is not leaving the IMF programme nor is it being suspended. There was immense speculation after Pakistan introduced the Budget 2021-22 without imposing any new taxes in defiance of the terms set
Tarin hopes for continuation of IMF programme
ISLAMABAD: Finance Minister Shaukat Tarin has ruled out any disagreement between Pakistan and International Monetary Fund (IMF) and said the Extended Fund Facility (EFF) programme would continue as both wanted it to move forward. “Both the Government of Pakistan and
Economic growth forecast
The government has forecast an ambitious target of 3.94% GDP growth rate this fiscal year maintaining that the economy has performed exceptionally well and all economic indicators have shown a positive trend amid the COVID-19 pandemic. The growth figures have
Will Tarin succeed?
The underlying question on everyone’s mind remains: Will Shaukat Tarin succeed? The prime minister brought a new finance minister – his fourth since the government was formed – and seems to hold him in high regard. Will Tarin succeed in
Increasing tax burden
Pakistan has made a commitment with the IMF to increase taxes by a massive Rs1.272 trillion, roughly 1.28 percent of the GDP. The government will meet a dozen conditions in six months to remain in the bailout programme which is
IMF forecasts 1.5% growth rate for Pakistan in 2021
DUBAI: The International Monetary Fund (IMF) has forecast GDP growth rate at 1.5 percent for fiscal year 2021, against negative 0.4 percent in 2020. The IMF in its latest report, “World Economic Outlook (WEO), managing divergent recoveries” has projected GDP
Rich countries could use taxes to reduce inequalities: IMF
WASHINGTON: The International Monetary Fund said advanced economies could use more progressive income taxes, inheritance and property taxes, and taxes on “excess” corporate profits to help reduce inequalities exposed by the COVID-19 pandemic. The IMF’s Fiscal Monitor said the pandemic
Another finance minister
Prime Minister Imran Khan has appointed the third finance minister in the government’s tenure. The abrupt ouster of Hafeez Shaikh before the annual budget came as a surprise as the government has just received the third tranche of $500 million
Pakistan receives $499m IMF tranche
ISLAMABAD: The State Bank of Pakistan (SBP) has confirmed receiving $499 million loan from the International Monetary Fund (IMF). In a statement, the central state confirmed having received IMF tranche of US$ 498.7 million (equivalent to SDR 350 million) under
Reviving IMF programme
The IMF programme is back on track. The prime minister had to take tough economic decisions in recent weeks amid the political uncertainty before the global financial institution could revive the $6 billion bailout plan imperative for budgetary support. Just
IMF approves $500 million disbursement for Pakistan
WASHINGTON: The International Monetary Fund has approved a $500 million disbursement to Pakistan for budget support. The decision came after the IMF executive board completed delayed reviews of Pakistan’s $6 billion loan program. The global financial institution said the latest
Economy and IMF agreements
Pakistan and the International Monetary Fund (IMF) finally reached an agreement to revive the $6 billion programme which was suspended in April last year due to the coronavirus pandemic and policy disagreements. The global financial institution reached a staff-level agreement
Revival of IMF loans
The IMF has agreed to revive the $6 billion programme which was suspended in April last year due to the coronavirus pandemic and policy disagreements. The global financial institution reached a staff-level agreement which would pave the way for the