Tag: IMF Executive Board
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Uncertainty surrounds Pakistan’s $7 billion IMF bailout as approval date still not confirmed
Pakistan’s much-anticipated $7 billion bailout package has not yet been scheduled for review by the IMF executive board.
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Pakistan plans to secure $4.5 billion from diverse sources in current fiscal year
Caretaker Minister for Finance, Dr Shamshad Akhtar, has outlined Pakistan’s financial projections for the current fiscal year (2023–24), highlighting an anticipated mobilisation of approximately $4.5 billion from both multilateral and bilateral sources, excluding the International Monetary Fund (IMF).
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State Bank of Pakistan’s forex reserves decline to $7.02 billion amidst debt repayments
During the week ending December 1, 2023, the State Bank of Pakistan (SBP) witnessed a decline of $237 million in its foreign exchange reserves, bringing the total to $7,020.2 million. This reduction is attributed to debt repayments.
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SBP reports second consecutive weekly decline in forex reserves
During the week ending on November 17, 2023, the State Bank of Pakistan (SBP) experienced a decline of $217 million in its foreign exchange reserves, settling at $7,180.0 million, as revealed by data released on Thursday.
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IMF and Pakistan seal agreement on $3 billion SBA, await board approval
In a significant development, the International Monetary Fund (IMF) declared on Wednesday that its team and Pakistani authorities have successfully concluded the initial review of the $3 billion, nine-month Stand-By Arrangement (SBA). This staff-level agreement awaits the approval of the IMF Executive Board. Upon endorsement, approximately US$700 million (SDR 528 million) will be accessible, contributing…
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Govt expected to hike gas prices by 50%, electricity by Rs4 per unit for IMF deal
“Pakistan is set to notify a significant increase in gas sale prices and electricity base tariffs for the fiscal year 2023-24 as part of an IMF deal. This move aims to pave the way for financial support and economic stability. Read on to learn more about the proposed energy price hikes and their implications for…