Showing posts with label Fund. Show all posts
Showing posts with label Fund. Show all posts

Wednesday, March 20, 2024

IMF Endorses Economic Boost for Pakistan with $1.1 Billion Aid

Illustration of Pakistan’s map with a symbolic representation of 1.1 billion dollars, encircled by a diverse group of people signifying the nation’s population.

Pakistan’s Economic Horizon Brightens with $1.1 Billion from IMF

In a landmark move, the International Monetary Fund (IMF) has signaled its readiness to bolster Pakistan's economy with a substantial financial infusion. The The International Monetary Fund has provisionally agreed to disburse $1.1 billion, contingent upon a thorough assessment and pending this action highlights Pakistan’s dedication to adhering to the Stand-By Arrangement (SBA) guidelines and the interim government’s proficient handling of economic policies.The incoming administration has committed to maintaining and enhancing the current economic strategies, setting Pakistan on a trajectory towards sustained and robust economic vitality. 

IMF’s Provisional Aid of $1.1 Billion: A Milestone for Pakistan’s Economy

Nathan Porter led the IMF delegation to Islamabad, where they engaged in productive talks concerning the economic policies of Pakistan underpinned by the Stand-By Arrangement (SBA). The tentative agreement acknowledges Pakistan's economic resurgence, marked by rising growth rates and strengthened confidence among investors, attributed to prudent fiscal strategies and revitalized global backing.  Pakistan grapples with economic hurdles, including modest growth projections, inflation surpassing projections, and the ongoing imperative for reforms to mitigate persistent fiscal frailties.

Economic Revival on the Cards: IMF’s $1.1 Billion Pledge to Pakistan

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The officials are resolute in their goal to meet the primary balance target for the general government in fiscal year 2024 and to expand the scope of tax collection. They also intend to persist with prompt adjustments to electricity and gas tariffs to ensure average rates align with cost recovery, all while safeguarding the less fortunate via graduated tariff frameworks., thus avoiding any net circular debt accumulation in FY24.


Pakistan: IMF Reaches Staff-Level Agreement on the Second and Final

IMF says it reaches a staff level agreement with Pakistan to disburse

Pakistan, IMF reach staff-level agreement on first bailout review.

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