US EditionIMF approves deal with Pakistan, unlocking $2 billion support
- The IMF announced a new $1.3 billion loan program for Pakistan and reviewed a bailout that could unlock an additional $1 billion, pending executive board approval.
- The IMF mission chief, Nathan Porter, stated that Pakistan has made significant progress in restoring macroeconomic stability despite challenges.
- The deal includes conditions for Pakistan to improve tax revenue and cut power subsidies, as confirmed by the IMF.
- The Pakistani government has filed a request to reduce electricity prices, which is currently under review by the National Electric Power Regulatory Authority.
31 Articles
31 Articles
IMF Gives Initial Approval for $2 Billion in Loans for Pakistan
International Monetary Fund is poised to disburse about $2 billion to Pakistan in two separate loans, in a show of confidence by the global lender in the government’s economic reforms to rebuild the fragile South Asian economy.
IMF agrees on new $1.3 bn loan program for Pakistan
WASHINGTON, United States — The IMF said Tuesday it has reached agreement with Pakistan on a new $1.3 billion loan program and reviewed an existing bailout that would, if approved, unlock an additional $1 billion. The new 28-month deal would support Pakistan’s efforts to mitigate and adapt to climate change, the International Monetary Fund said in a statement announcing its decision. Both the new program and the loan review require approval from…
IMF approves deal with Pakistan, unlocking $2 billion support
Pakistan and the International Monetary Fund (IMF) have successfully concluded negotiations, resulting in a staff-level agreement, according to media reports on Tuesday late. According to an official statement from the IMF, the delegation was led by Nathan Porter. The IMF has confirmed that Pakistan now has access to up to $1 billion under the Extended Fund Facility (EFF). The discussions were held in Karachi and Islamabad from 24 February to 14…
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