“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 […]
In its latest report on fiscal policy, the International Monetary Fund said it expects global public debt to hit 93 percent of global gross domestic product (GDP) this year, and to approach 100 percent of GDP by 2030 — 10 percentage points higher than in 2019, before the Covid-19 pandemic hit. “Global public debt is […]
The report finds that these economies are poorer today on average than on the eve of the COVID-19 pandemic, even as the rest of the world has largely recovered from COVID and resumed its growth trajectory. Released a week before World Bank and International Monetary Fund annual meetings get underway in Washington, the report confirms […]
The IMF package is not just for the federal government but for the entire country, said Aurangzeb, in a press conference held in Islamabad. He stressed the importance of implementing tough decisions to ensure economic stability. Pakistan has availed 25 IMF programmes since becoming a member of the International Monetary Fund (IMF) in 1950. The […]
During a meeting with IMF Managing Director Kristalina Georgieva, Prime Minister Shehbaz Sharif discussed the need for urgent action to control climate change in Pakistan. The loan will support Pakistan’s Climate Resilience and Sustainability Facility, which aims to promote economic stability and sustainable development in the country. The Prime Minister also expressed appreciation for the […]
According to an official statement of the IMF, the fund noted that Pakistan’s economic growth rate has reached 2.4. However, the country still faces major challenges, including a difficult business environment, weak governance, and a limited tax base. According to the statement, Pakistan has implemented continuous policies under the Stand-By Arrangement over the past year, […]
Speaking to newsmen after the IMF Executive Board meeting, Kristalina Georgieva congratulated the government and people of Pakistan She also praised the country’s economic situation, citing significant reforms and improved growth. The IMF Managing Director said that Pakistan has made reforms and the country’s economy has improved. She said that Pakistan presented its reform program […]
According to the Fund’s Executive Board’s calendar on its website, the Board would consider “Pakistan – 2024 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility”. Finance Minister Muhammad Aurangzeb said the IMF board is likely to approve the program during today’s meeting. The finance minister expressed optimism, stating that […]
