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 […]
Dissanayake, whose leftist coalition won 159 seats in the 225-member parliament in the general election, also reappointed veteran legislator Vijitha Herath to helm the foreign affairs ministry. Dissanayake did not name a new finance minister during Monday’s swearing-in, signaling that he will keep the key finance portfolio himself as he had done in September after […]
The unusual visit from Nov 12 to Nov 15 discussed a $7-billion bailout within six weeks of its approval by the IMF board but came too early for the first review of the Extended Fund Facility (EFF), due in the first quarter of 2025. “We are encouraged by the authorities’ reaffirmed commitment to the economic […]
According to sources, the visit will aim to conduct talks on a $1 billion additional loan facility to support Pakistan’s economic stability and growth. Sources revealed that the loan negotiations will focus on climate change mitigation efforts, building on Pakistan’s request for climate financing submitted to the IMF last month. As part of this initiative, […]
According to the reports, the Oil & Gas Regulatory Authority (OGRA) will hold a hearing tomorrow in Lahore on the application submitted by Sui Northern Gas Pipelines Limited (SNGPL), while the hearing for Sui Southern Gas Company Limited (SSGC) request will be held on Nov 8 in Karachi. Reports suggest that a request has been […]
According to sources, the FBR’s failure to meet its tax targets has resulted in a major shortfall, that may lead to difficulties in the second installment of the loan. Sources revealed that the IMF has also expressed its concerns over the FBR’s inability to meet its tax targets, whereas the mini-budget is seen as a […]
Kenya is considered an economic bright spot in the troubled East African region. But it is grappling with around $80 billion in external and domestic debt, and interest payments are eating up two-thirds of its annual revenue, more than its bills for health or education. An International Monetary Fund review was delayed by protests that […]
“We have formally requested to be considered for this facility,” the minister said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington. The International Monetary Fund had already agreed to a $7 billion bailout for Pakistan but has further funding available via its Resilience and Sustainability Trust (RST). The RST, […]
According to sources, Finance Minister Muhammad Aurangzeb will make the request during the annual IMF meetings, scheduled to take place later this month. This development came after Pakistan’s initial request for climate financing was not immediately approved by the IMF, sources said. Sources revealed that Pakistan has taken steps to address fiscal sustainability and mobilize […]
According to IMF, the quarterly stipend for BISP recipients will increase by Rs. 3,000, raising the total quarterly stipend to Rs. 13,500 from January who currently receive Rs. 10,500. The IMF is working to enhance the BISP and its administrative systems, in collaboration with the World Bank. The BISP has a budget of Rs. 599 […]
