According to sources, the IMF agreed to provide $1 billion in climate financing after the first quarterly economic review, expected to occur in March. Sources revealed that the climate financing will be part of the Extended Fund Facility (EFF) loan program, which will become the largest program in Pakistan’s history once approved. The economic team […]
S&P Global Ratings affirmed its ‘CCC+’ long-term sovereign credit rating and ‘C’ short-term rating on Pakistan. The outlook on the long-term rating is stable. The IMF deal is expected to bring improvement in foreign exchange reserves, which will help Pakistan to meet its debt obligations. However, Pakistan is still dependent on rollovers to maintain its […]
“The upgrade reflects greater certainty over the continued availability of external funding, in the context of Pakistan’s staff-level agreement (SLA) with the IMF on a new 37-month USD7 billion Extended Fund Facility (EFF),” Fitch company said in a statement on Monday. “Nevertheless, Pakistan’s large funding needs leave it vulnerable if it fails to implement challenging […]
In an interview with the Financial Times, he said that the “upcoming IMF program will not be our last fund program if we don’t bring our tax revenues up,” Aurangzeb maintained that he is hoping Pakistan will reach a staff-level agreement with the IMF this month, estimating the agreement to be worth $6-8 billion. He […]
