Tag: Extended Fund Facility
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Pakistan is making desperate efforts to revive IMF programme before deadline
Pakistan is facing a critical situation as it seeks to revive its stalled Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF). The $6.5 billion programme is set to expire on June 30, and negotiations for the ninth review, due last November, have not been successful.
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IMF loan delay continues to impact Pakistani rupee
During trading on Wednesday, the Pakistani rupee experienced a slight decrease against the US dollar, with a depreciation of almost 0.06 per cent in the inter-bank market. At around 12:45 pm, the currency was being traded at 284.06, which is a decline of Re0.16.
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Ishaq Dar to attend IMF, World Bank meetings in US
Finance Minister of Pakistan, Ishaq Dar, will lead a delegation to the United States to attend the annual spring meeting of the Breton Wood Institutions (BWIs), comprising the International Monetary Fund (IMF) and World Bank, from April 10 to 16. The delegation includes officials from the Finance and Economic Affairs Division and the State Bank…
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Another IMF condition met as Pakistan imposes 25% sales tax on luxury items
On Tuesday, the federal cabinet led by Prime Minister Shehbaz Sharif approved the imposition of a 25 per cent sales tax on luxury items, fulfilling a condition set by the International Monetary Fund (IMF) for the revival of the $7 billion Extended Fund Facility (EFF) that had been stalled for months. The cabinet approved the…
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IMF Executive Board meeting to discuss revival of loan plan today
The International Monetary Fund (IMF) executive board will meet on Monday (today) to discuss the bailout plan for Pakistan. The 8th and 9th tranches, totaling over $1.2 billion, are anticipated to be disbursed with board approval. According to Geo, Pakistan also requested that the Extended Fund Facility (EFF) be increased from $6 billion to $7…
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IMF to send Letter of Intent soon to release $1.17 billion tranche
The International Monetary Fund’s (IMF) agreement with Pakistan to release two tranches totaling $1.17 billion as part of a loan facility that was stalled is nearing completion, as the Letter of Intent (LoI) from the fund may arrive in a few days. Pakistan is likely to receive the LoI, which the governor of the State…
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IMF, Pakistan reach staff-level agreement on policies and reforms
The International Monetary Fund (IMF) and Pakistan reached a staff-level agreement on policies and reforms needed to complete the sixth review under the $6 billion Extended Fund Facility (EFF), which has been ‘in recess’ since April, the Fund announced in a statement on Monday. The agreement is subject to approval by the Executive Board, following the implementation…