Tag: Default Prevention
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CAA’s timely intervention saves PIA from defaulting on IATA payments
The Civil Aviation Authority (CAA) stepped in to rescue Pakistan International Airlines (PIA) from a potential financial crisis with the International Air Transport Association (IATA).
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IMF reaches $3 billion stand-by arrangement with Pakistan, averting impending default
The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on a stand-by arrangement worth $3 billion, announced the lender. This decision has been eagerly anticipated by Pakistan, a South Asian nation that is on the verge of default.