Skip to main content

General Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the IMFin order to help stabilize Pakistan's shrinking economy.

  The Chief of Army Staff, General Qamar Javed Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the International Monetary Fund in order to help stabilize Pakistan's shrinking economy. Deputy Secretary of State Wendy Sherman, according to security sources, spoke with the army chief earlier this week. It is stated that the army chief made a plea to the White House and Treasury Department to get the IMF to immediately supply the almost $1.2 billion that the country is slated to receive under a reopened loan program. "Staff-level approval" for the loan was granted by the International Monetary Fund (IMF) on July 13. IMF Executive Board clearance is required before the transaction can be completed as part of Pakistan's $6 billion Extended Fund Facility. The International Monetary Fund (IMF) will be on vacation for the next three weeks, and its board will not meet until late August at the earliest. According to an IMF official wh...
Post a Comment

Due to the default risk, the IMF seeks assurance of a new condition for Saudi Arabia's $4 billion investment in Pakistan.

Due to the default risk, the IMF seeks assurance of a new condition for Saudi Arabia's $4 billion investment in Pakistan.





According to News, International Monetary Fund (IMF) is attempting to examine Saudi Arabia's commitment to supporting Pakistan before disbursing further cash to the South Asian country.

Furthermore, knowledgeable sources, that the IMF wants to guarantee that Saudi Arabia provides up to $4 billion in finance to Pakistan to ensure that Islamabad does not face a liquidity vacuum following the IMF loan.

It would includes special drawing rights, as per sources.

It is crucial matter as the IMF needs to lend Pakistan $1.2 billion, it would not be sufficient for Prime Minister, Shahbaz Sharif’s to avoid debt default, confirmed by sources.

According to projections, Pakistan would require at least $41 billion in debt payments and foreign exchange reserves over the next 12 months.

It further said that if there is a risk of default, the IMF's board of directors may refuse to sanction the disbursement of funding.

Earlier that day, on July 14, the IMF and Pakistan achieved a staff-level agreement for the release of US$1.17 billion under the combined 7th and 8th reviews of Pakistan's Extended Fund Facility (EFF).

According to a Fund release, the agreement is subject to ratification by the IMF's Executive Board.

Furthermore, it has been stated that the IMF board would consider extending the EFF through June 2023 in order to boost program execution and meet increased funding needs in 2023, as well as to complete extra financing.

Furthermore, the availability to SDR 720 million will increase the total amount under EFF to almost US$ 7 billion.

Comments

Post a Comment

Popular posts from this blog

Always collaborated with Wonder Women to spread vending machines around Pakistan!

Always is pleased to announce its collaboration with Wonder Women to put sanitary pad vending machines in educational facilities all around the nation, making it simpler for girls to get menstrual hygiene supplies. Finally! The females won't feel alone, perplexed, or upset any more. Given that Pakistan is a conservative nation, society finds it challenging to inform and empower young girls about how typical periods are. Because of this, many women choose not to go shopping for sanitary pads because they feel uncomfortable buying them from male shops. They are fast to conceal sanitary pads in a black shopping bag when making a purchase at a market. Their confidence will increase, and their lives will become much simpler, if vending machines are installed in schools and universities. Women can avoid humiliation with the use of a self-service machine. Having Sanitary Pad vending machines at educational institutions may save ladies a lot of time and worry. College students already have...
Post a Comment
Read more

Should Dua Zehra depart from Zaheer and go back to her parents?

Dua Zahra asks parents to stop shaming her and her husband Zaheer Ahmed during a private digital TV interview. The teen's family has been attempting to gain custody of her and has filed numerous court suits, alleging that Zaheer abducted their daughter because she was a "minor" and was unable to get married. given her age. The girl is between the ages of 15 and 16 according to the most recent medical board findings, and Sindh and Punjab law prohibits marriage at those ages.  Zahra argued and stated that she will not travel to her hometown under any circumstances because she believes her life is "in danger" there after receiving threats to her life in Karachi. "Please let me know whether my parents are trying to kill me by doing all of this. I'll take my own life, "Dua Zahra adds. "My parents have been lying since day one," she claims. As for the lawsuit involving Dua's marriage, the last and final decision may be made on July 20. Give...
Post a Comment
Read more

Virat Kohli's first tweet of the year, and it's a special one.

Response by Virat Kohli to Babar Azam's tweet Virat Kohli, the standout batter for India, is currently under criticism for his "poor" form, and it seems like everyone is talking only about him. In the last two press conferences, Indian team captain Rohit Sharma, who is now in England with the squad, has backed Virat Kohli. Similar statements have been made repeatedly by Rohit Sharma, who claims that while a player's form may fluctuate, the big player will always stay large and make a comeback. Not only Rohit Sharma or other Indian players have spoken out in support of Virat Kohli, but Pakistani stars, including other players, have also stated that Virat Kohli will surely recover from this difficult period. Pakistan captain and star batsman Babar Azam delivered one such message to Virat yesterday. In a tweet regarding Virat Kohli, Babar Azam, who is frequently likened to him, said, 'This phase will also pass, just stay strong.' The Pakistan captain's tweet ...
Post a Comment
Read more

Karachi suffers greatly during the EID due to heavy rain.

  Since previous night, there has been a lot of rain in several areas of Karachi. According to the most recent reports, a low-pressure system over the Arabian Sea will likely cause the city to see sporadic light to moderate rain throughout the day. Heavy rains once more exposed the city's drainage infrastructure and the Sindh government's claims on its rain emergency measures, causing several major highways and streets to totally flood. City drainage systems completely collapse once more, severely affecting major areas including Defence, Clifton, Share-e-Faisa, Gulsha-e-Iqbal, Gulistan-e-Johar to Nazimambad, New Karachi, and Surjani. Citizens are being urged not to leave their homes because of urban flooding in Karachi as a result of recent heavy downpours. Be careful, everyone.
Post a Comment
Read more