IMF Archives - Page 2 of 3

29Jul

By Muhammad Dastageer Shams1 Comment

Business

Pakistani petrol prices could rise?

According to experts, price of petrol in Pakistan should have reduced by Rs 25 per liter in view of the recent decline in oil prices in the international market. Due to the rupee's continuous decline against the dollar and the local unit making record lows on a daily basis for the last couple of days, the government will not be able to pass on the benefits of lower prices for petroleum products to consumers. The local currency had plunged to a new low against the US dollar, which continued to strengthen in the inter bank market for the ninth straight session. As it shed Rs 3.09 or 1.31%, the greenback closed at Rs 236.02 in the inter bank market, up from Rs 232.93 a day earlier. After closing at almost Rs 211 on July 15, 2022, the dollar has gained Rs 25 against the rupee. As a c...

Fitch sees ‘considerable risks’ In IMF report

19Jul

By Muhammad Dastageer ShamsNo Comments

Business

Fitch sees ‘considerable risks’ In IMF report

The New York-based agency(Fitch), one of three major global rating agencies, also affirmed Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' on Monday. Since the start of the year, Pakistan's external liquidity position and financing conditions have deteriorated significantly, according to Fitch Ratings. Ratings outlooks downgraded by Fitch due to a host of other factors. Especially in the current environment of slowing growth and high inflation, renewed political volatility could undermine the authorities' fiscal and external adjustment. A lack of political stability Earlier this month, Fitch reported that former prime minister Imran Khan, who ousted by a no-confidence vote on 10 April, demanded early elections and held large protests. With only a s...

US helped Pakistan in reaching IMF accord

1Jul

By Muhammad Dastageer Shams2 Comments

Business

US helped Pakistan in reaching IMF accord

Pakistan’s request to the United States in handling the current economical issues with the International Monetary Fund (IMF) “helped” the country. However, there had been no concessions in situations set for the continuation of the loan settlement. Speaking to Geo News today, 'Naya Pakistan' host Shahzad Iqbal said that according to his records; Capital has got the advantage of reaching out to the United States. This is due to the fact that IMF's mindset at that point has become very strict. So the IMF became placing harsh situations and likely may have refused to signal help with the situation. However, the anchorperson added, it is due to the US pressure which made it viable for Pakistan. However, there had been no concessions in situations.According to reports, Finance Minister Miftah ...

What IMF report says about Pakistani Economy?

20Apr

By Muhammad Dastageer Shams1 Comment

Business

What IMF report says about Pakistani Economy?

IMF IMF says that in Pakistan the economy has rebounded on the back of waning COVID-19 infections and expansionary fiscal and monetary policies. An improvement in the external position has been hindered by strong import growth, fueled by macroeconomic policy mix, commodity price increases, and credit growth. Rupee depreciation is marked, and inflation remains persistently high. The current account deficit has increased. Recent Economy development Once again, Pakistan stands at a crossroads according to IMF statisitcs. Pakistan was on the brink of a severe currency and fiscal crisis. But the EFF program was able to stabilize the economy, rebalancing the macroeconomic policy mix, and preventing a disorderly adjustment. During the first nine months of the progr...

IMF to disburse $2.77 Billion COVID 19 fund in Pakistan

14Aug

By Abdullah1 Comment

Business

IMF to disburse $2.77 Billion COVID 19 fund in Pakistan

Minister 'Shaukat Tarin' announced that that the IMF would disburse $2.77b unconditional loan at zero mark-up by August 23, 2021. This will help Pakistan with losses amid the COVID 19 situation. On Thursday 12th August, Minister for Finance and Revenue 'Shaukat Tarin' announced that on 23rd August Pakistan will receive $2.77 billion from the International Monetary Fund (IMF). This disbursement of amount is a part of IMF's general allocation of $650 billion. IMF is taking this initiative to boost global liquidity affected due to wide spread of COVID 19 virus. IMF will distribute the general allocation amongst all its members , it will be a great help to those badly affected. Shaukat Tarin talked about the situation in a press conference. He said that the amount will be directly tran...