Imf Deal

In an effort to minimise administrative expenditures, cash-strapped Pakistan on Sunday announced to abolish about 150,000 government posts, close six ministries, and merge two others, as part of reforms agreed upon with the IMF under USD 7 billion lo

The International Monetary Fund said it reached a new $7 billion loan deal with Pakistan in a bid to bolster its faltering economy.

The prime minister said that Pakistan government is compelled to enter into a new IMF deal for the purpose of stability.

The International Monetary Fund on Wednesday said it had reached a staff level agreement with Pakistan, which if approved by its board, will disburse $1.1 billion for the indebted South Asian economy also saddled with a balance of payment crisis.

Negotiations on a new government in Pakistan have allayed immediate fears of instability in the nuclear-armed nation following inconclusive elections last week, but the risk of a full-scale economic crisis remains.

The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Pakistan won final approval for the disbursement of about $700 million in aid from the International Monetary Fund, providing a boost to the embattled South Asian economy ahead of elections next month.

The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.

The International Monetary Fund on Wednesday said Russia's exit from a deal allowing Ukrainian exports via the Black Sea threatens to increase global food insecurity and could drive food prices higher, especially in low-income countries.

The IMF has transferred USD 1.2 billion to Pakistan, Finance Minister Ishaq Dar said on Thursday, a day after the global lender approved a USD 3 billion bailout programme for the cash-strapped country.

The International Monetary Fund's board approved a $3 billion bailout programme for Pakistan on Wednesday, the lender said, which will immediately disburse about $1.2 billion to help the South Asian country.

Pakistan's state bank coffers were further boosted Wednesday by a $1 billion deposit from the United Arab Emirates, officials said, ahead of a key International Monetary Fund (IMF) board meeting to approve new funding.

Pakistan's Prime Minister Shehbaz Sharif said on Wednesday he was hopeful that $3 billion short-term bailout from the International Monetary Fund would be approved by the multilateral lender's board when it meets on July 12.

Pakistan could get temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the IMF in Washington on Thursday.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.

In an effort to minimise administrative expenditures, cash-strapped Pakistan on Sunday announced to abolish about 150,000 government posts, close six ministries, and merge two others, as part of reforms agreed upon with the IMF under USD 7 billion lo

The International Monetary Fund said it reached a new $7 billion loan deal with Pakistan in a bid to bolster its faltering economy.

The prime minister said that Pakistan government is compelled to enter into a new IMF deal for the purpose of stability.

The International Monetary Fund on Wednesday said it had reached a staff level agreement with Pakistan, which if approved by its board, will disburse $1.1 billion for the indebted South Asian economy also saddled with a balance of payment crisis.

Negotiations on a new government in Pakistan have allayed immediate fears of instability in the nuclear-armed nation following inconclusive elections last week, but the risk of a full-scale economic crisis remains.

The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Pakistan won final approval for the disbursement of about $700 million in aid from the International Monetary Fund, providing a boost to the embattled South Asian economy ahead of elections next month.

The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.

The International Monetary Fund on Wednesday said Russia's exit from a deal allowing Ukrainian exports via the Black Sea threatens to increase global food insecurity and could drive food prices higher, especially in low-income countries.

The IMF has transferred USD 1.2 billion to Pakistan, Finance Minister Ishaq Dar said on Thursday, a day after the global lender approved a USD 3 billion bailout programme for the cash-strapped country.

The International Monetary Fund's board approved a $3 billion bailout programme for Pakistan on Wednesday, the lender said, which will immediately disburse about $1.2 billion to help the South Asian country.

Pakistan's state bank coffers were further boosted Wednesday by a $1 billion deposit from the United Arab Emirates, officials said, ahead of a key International Monetary Fund (IMF) board meeting to approve new funding.

Pakistan's Prime Minister Shehbaz Sharif said on Wednesday he was hopeful that $3 billion short-term bailout from the International Monetary Fund would be approved by the multilateral lender's board when it meets on July 12.

Pakistan could get temporary relief for its ballooning foreign debt with a new stand-by arrangement worth $3 billion announced by the IMF in Washington on Thursday.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.