Tag: international finance
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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 aims for more than $6 billion IMF bailout, targets agreement this month
Pakistan is on track to finalise a staff-level agreement with the International Monetary Fund (IMF) for a bailout exceeding $6 billion by the end of this month, announced Junior Finance Minister Ali Pervaiz Malik on Wednesday.
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Overseas workers’ remittances surge to $3 billion in March
In March 2024, Pakistan witnessed a significant surge in the influx of overseas workers’ remittances, reaching a notable milestone of $3 billion.
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Pakistan may enter fresh IMF loan programme, stricter conditions expected
In the wake of the completion of its current loan programme, Pakistan is poised to sign a new loan agreement with the International Monetary Fund (IMF), reports indicate.
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SBP reports 26% increase in overseas workers’ remittances
In January 2024, Pakistan witnessed a notable increase in the inflow of overseas workers’ remittances, reaching $2.4 billion, as revealed by data released by the State Bank of Pakistan (SBP) on Monday. This marks a 1 per cent rise compared to December 2023, where remittances stood at $2.38 billion.
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Pakistan expected to increase petroleum levy to get IMF loan
Pakistan has reportedly provided assurances to the International Monetary Fund (IMF) regarding an augmentation of the petroleum levy in the fiscal year 2024–25, aligning with its intentions to embark on a new loan programme.
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IMF board’s January meeting to shape future disbursements for Pakistan
The International Monetary Fund’s (IMF) Executive Board is scheduled to convene on January 11 to endorse the Staff-Level Agreement (SLA) with Pakistan, marking the inaugural review of the $3 billion Stand-By Arrangement (SBA). In June, the IMF Executive Board granted approval for a crucial nine-month arrangement with Pakistan, aimed at supporting its economic stabilisation programme.…
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Pakistani rupee declines by 48 paisa, closing at Rs280.57 against US dollar
In the financial markets this week, the Pakistani rupee (PKR) experienced a depreciation of 1.78 rupees against the US dollar, closing the week’s trade at PKR 280.57.
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Pakistani rupee claims top spot as best-performing currency worldwide
Amidst a determined crackdown on smuggling and illegal financial activities, the Pakistani rupee has emerged as the world’s top-performing currency for September. During this remarkable month, the rupee’s value surged from Rs305.54 against the US dollar on August 31st to Rs287.74 on September 28th, a notable increase of Rs17.8 or 6.2 per cent.
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Will Pakistan secure IMF’s bailout? Decision expected within 48 hours
Prime Minister Shehbaz Sharif engaged in a telephonic conversation with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), on Tuesday.