Tag: loans
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Pakistan secures over $228 million in loans from multiple foreign sources
In April 2024, Pakistan secured $237.24 million in external financing from various sources, according to the Economic Affairs Division (EAD). This sum included $228.64 million in loans and $8.60 million in grants.
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Pakistan’s total debt skyrockets to Rs 81 trillion
Bad news for Pakistanis as the country’s total debt and liabilities increased to a record of nearly Rs 81 trillion in the past year. Pakistan is currently going through a severe and difficult economic crisis as it tries to increase revenue generation and reduce all its debts, however, no silver lining yet. The collective debt…
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PIA flight operation resumed after deal with PSO
Update: After intense deliberation, PIA has cracked a deal with PSO due to which flight operations are slowly restarting. The delay in reaching an agreement caused the cancellation of more than 19 flights and delayed more than 20 others. According to the deal, PIA is to pay Rs.100 million to the PSO on a daily…
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IMF meetings schedule excludes Pakistan till June 29 amidst pending 9th review
In a setback for Pakistan, the International Monetary Fund (IMF) Executive Board has excluded the country from its upcoming meetings, raising concerns about the completion of the 9th review under the Extended Fund Facility (EFF) programme. The IMF’s executive board calendar reveals that Pakistan is not on the agenda for the scheduled meetings until June…
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Moody’s warns of limited loan options for Pakistan without new IMF programme
According to a report by Moody’s Investors Service, Pakistan’s ability to secure loans from bilateral and multilateral partners will be severely limited until a new programme is negotiated with the International Monetary Fund (IMF). The report suggests that it may only become clear whether Pakistan will join another IMF programme after the elections, which are…
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Pakistan’s history of IMF bailouts: A look at 75 years of economic challenges
Pakistan is currently facing yet another economic crisis, a recurring issue that has caused the country to repeatedly seek help from the International Monetary Fund for financial assistance.
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Saudi Arabia and UAE pledge $3 billion to Pakistan as IMF agreement nears
On Monday, Finance Minister Ishaq Dar stated that Pakistan has fulfilled all conditions set by the International Monetary Fund (IMF). He expressed hope that the IMF would soon sign the staff-level agreement, which would allow for the release of the $1.1 billion tranche.
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Ishaq Dar cancels trip to the US for IMF and World Bank spring meetings
The Finance Minister, Ishaq Dar, has cancelled his scheduled trip to the United States next week to meet with the International Monetary Fund (IMF) and World Bank. The reason cited for the pull-out is the “domestic state of affairs” in the country, as the deepening political uncertainty has made it difficult for Dar to attend…
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Chinese bank to provide Pakistan with another $500 million loan soon
A Chinese bank has committed to provide Pakistan with another refinanced $500 million loan within the next few days. This brings the total of commercial loans to $1.7 billion out of the committed amount of $2 billion. Pakistani authorities are currently seeking 100 per cent confirmation from friendly donor countries and multilateral creditors before moving…
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Pakistan’s forex reserves increase by 9%, cross $3 billion mark
State Bank of Pakistan’s foreign exchange reserves have risen above $3 billion after a 9 per cent increase, breaking a three-week decline.