When asked about the staff-level agreement, IMF Communication Director Julie Kozack – while addressing a press briefing – avoided answering, indicating that the negotiations are still ongoing. “Right now, a mission team led by Nathan Porter is meeting with Pakistan authorities this week to discuss the next phase of our engagement.” She said: “On April […]
In its staff report for the second and final review under the recently-concluded $3-billion Stand-By Arrangement, the IMF said Pakistan should be able to meet its fiscal year 2023-24 circular debt management plan (CDMP) target of Rs2.3 trillion with zero net zero stock accumulation. “Timely notification of the FY25 annual rebasing will be critical to […]
According to reports from the finance ministry, Pakistan is planning to seek an extension on a $12 billion loan from friendly nations to manage its financial needs for the fiscal year 2024-25. The breakdown of the requested extension includes $5 billion from Saudi Arabia, $4 billion from China, and $3 billion from the United Arab […]
the IMF’s mission has reached Islamabad to assist the finance ministry in finalizing the FY2024-25 budget. The team will stay in Pakistan for more than 10 days, while other members of the IMF mission are likely to reach Pakistan on the night of May 16, the sources said. The mission will hold talks with Islamabad […]
According to sources, the government is considering taxation on the real estate sector to increase revenue, as well as taking action against benami transactions in the real estate sector. Additionally, the government will also take action against those traders who do not use the “Tajir dost app”, sources added. The budget is also expected to […]
The SBP, in a statement issued here on Thursday, informed that foreign reserves held by the central bank increased by $ 25 million to $ 8,006 million during the week under review. Meanwhile, net foreign reserves held by commercial banks were recorded $5,310 million, it added. Total liquid foreign reserves held by the country, in […]
When it comes to efforts to stabilize its economy, we support those efforts, including reaching an agreement with the IMF,” said the department’s spokesperson, Matthew Miller. “Our support for Pakistan’s economic success is unwavering and we will continue to engage with them through technical engagements as well as through our trade and investment ties, all […]
Addressing a news conference Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian said in Pakistan’s case, monetary policy has been tightening over the past two or three years to control inflation, and inflation is projected to come down, but more work needs to be done. He said that Pakistan is […]
In its latest World Economic Outlook (WEO) report released on Tuesday, the Washington-based global lender also projected a reduction in inflation and unemployment in the country. The IMF forecast the consumer price index (CPI) at 24.8pc and 12.7pc for the current and next fiscal year, respectively. The unemployment rate may drop to 7.5 in the […]
According to a statement issued by the central bank, the total liquid foreign reserves of Pakistan reached $13.441 billion in the week ended on April 5, 2024. The foreign exchange reserves held by the central bank decreased by 0.1 million to $ 8.040 million during the week under review. Meanwhile, net foreign reserves held by […]
