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 […]
Anura Kumara Dissanayake, sworn in Monday as the country’s first leftist president, has said he wants to renegotiate the deal, which has brought unpopular austerity measures. “We look forward to working together with President Dissanayake… towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery,” an IMF […]
IMF’s Director of Communication, Julie Kozek, confirmed an Executive Board meeting scheduled on September 25 in a press briefing, adding that negotiations for a new $7 billion loan program were finalized back in July. On the other hand, the Finance Minister of Pakistan – Muhammad Aurangzeb – announced that all matters with the IMF have […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
