Khan, before coming into power in 2018, had been a severe critic of approaching the IMF and other countries for loans
"Why? Because the three big economies - the US, EU and China - are all slowing down simultaneously," she said
For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the US, Europe and China - all experience weakening activity, the head of the IMF said
Pakistan Prime Minister Shehbaz Sharif has said that his government has no other option but to implement the International Monetary Fund (IMF) programme to revive the cash-starved economy. He regretted that if the government wanted to give any subsidy in any sector, it had to go to the IMF "which is a factor and a painful reality", the state-run Associated Press of Pakistan quoted Sharif as saying during a meeting on Tuesday. He said the coalition government never wanted to transfer the burden of price hikes to the people but added that the country would have to implement the IMF programme as they had no other option. The prime minister also said that the agreement with the IMF was blatantly breached by the Imran Khan-led PTI government in the past. Cash-strapped Pakistan revived a stalled USD 6 billion IMF programme this year which was initially agreed upon in 2019 but is finding it hard to meet the tough conditions of the Washington-based global lender. There are reports that the
International Monetary Fund has shared list of prerequisite actions with Pakistani authorities for moves towards implementing them in the next three weeks if they are keen to revive the loan programme
Ukraine will require at least $39.5 billion in external financing in 2023 to keep its economy afloat, a media report said, citing a recent International Monetary Fund (IMF) projection
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Pakistan had in the current fiscal, estimated flood-related reconstruction costs at PKR 251 billion (USD 1.1 billion)
But govt asserts public debt is sustainable
The programme is aimed at mobilising state budget revenues, strengthening the financial sector, and improving management transparency and effectiveness for state-owned enterprises
As per the IMF loan rider, Pakistan, with its dwindling foreign exchange reserves amid strict repayment schedule, had committed to increase levy on fuel and eliminate subsidies
The International Monetary Fund has approved a deal that will provide a USD 3 billion support package to cash-strapped Egypt over a period of almost four years, with the agreement expected to draw in additional USD 14 billion in financing for the Middle East country. The announcement from the IMF's executive board late on Friday comes after a preliminary agreement was reached in October between Egypt and the fund, hours after Egypt's central bank introduced a series of reforms, including a hike in key interest rates by roughly 2 percentage points. The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine, events that have played havoc with global markets and hiked oil and food prices worldwide. Egypt is the world's largest wheat importer, most of which came from Russia and Ukraine. The country's supply is subject to price changes on the international market. The deal announced on Friday known as an Extended Fund Facility Arrangement is expected to
Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery
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Pakistan's external debts, which were at $65 billion in 2015, have now touched $130 billion
An IMF paper sheds light on the issue of persistently high global food inflation, and the prognosis is not comforting
Sri Lanka is pursuing pacts with commercial and bilateral lenders to meet conditions for the IMF to disburse a $2.9 billion loan
The IMF said the fiscal position of low-income countries "is increasingly under stress"
Low-income nations will need nearly $500 bn in external financing during 2022-26 period, IMF said, a rise of about $57 bn from a year-ago estimate due largely to spillovers from Russia-Ukraine war
Agencies such as GroupM, Dentsu and Interpublic Groupe's Magna remain bullish about domestic ad spends; 2022 to close at 15% in terms of adex growth, they say