By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Wednesday it had reached a staff-level agreement with Pakistan on the completion of the second and final review of a $3 billion bailout program, paving the way for a release of $1.1 billion in funds.
By Staff Reporter
KARACHI: Pakistan’s central bank maintained its benchmark interest rate at 22 percent on Monday, in a widely anticipated move that marks the sixth consecutive policy meeting without a change.
By Staff Reporter
ISLAMABAD: The Finance Ministry commenced the final review of its $3 billion standby arrangement with the International Monetary Fund (IMF) on Thursday, signaling confidence in meeting the fund’s criteria and securing a subsequent tranche of $1.1 billion.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) is set to conduct its final review of Pakistan’s $3 billion stand-by arrangement (SBA) starting today, with discussions anticipated on a new, longer-term bailout for the South Asian nation, the finance ministry and IMF said.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Friday it was ready to work with Pakistan’s new government to complete the second review of its $3 billion bailout program and support a new medium-term economic plan if requested.
Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) on Thursday expressed its readiness to work with the newly formed coalition government of Prime Minister Shehbaz Sharif in Pakistan to conclude the ongoing $3 billion standby loan arrangement.
By Staff Reporter
ISLAMABAD: Pakistan’s consumer price inflation eased for a second consecutive month in February to its lowest level since June 2022, as food and energy prices moderated amid a slowing economy, official data showed on Friday.
By Staff Reporter
ISLAMABAD: The finance ministry said on Thursday that high interest rates and limited fiscal space were hampering the country’s economic recovery, as it projected inflation to ease slightly in the coming months.
The government has imposed a 200 percent increase in the Federal Excise Duty (FED) on tobacco products, ostensibly to raise revenue. But this policy has backfired, as it has severely damaged the legitimate tobacco industry while fueling the growth of the illicit trade.
By Staff Reporter
ISLAMABAD: China has agreed to roll over a $2 billion loan to Pakistan on existing terms, after initially seeking a higher interest rate, as the South Asian nation struggles to maintain its foreign exchange reserves amid mounting debt payments, local media reported on Thursday.
