Pakistan 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 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.

Pakistan's government aims to generate an additional Pakistani rupees (Rs) 215 billion in taxes and cut spending by Rs 85 billion in the next fiscal year in order to seal International Monetary Fund (IMF) deal, Dawn reported.

Pakistan Prime Minister Shehbaz Sharif on Friday hoped the IMF would resume the stalled USD 6.7 billion bailout programme as his country has already met all prior conditions set by the global lender despite economic hardships.

Pakistani Prime Minister Shehbaz Sharif is hopeful of finalising a deal with the International Monetary Fund (IMF) this month, he said in an interview with Turkish news agency Anadolu.

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 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.

Pakistan's government aims to generate an additional Pakistani rupees (Rs) 215 billion in taxes and cut spending by Rs 85 billion in the next fiscal year in order to seal International Monetary Fund (IMF) deal, Dawn reported.

Pakistan Prime Minister Shehbaz Sharif on Friday hoped the IMF would resume the stalled USD 6.7 billion bailout programme as his country has already met all prior conditions set by the global lender despite economic hardships.

Pakistani Prime Minister Shehbaz Sharif is hopeful of finalising a deal with the International Monetary Fund (IMF) this month, he said in an interview with Turkish news agency Anadolu.