Page 28 - Imf

Pakistan has 'no other option' except implementing IMF deal, says Pak PM

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

IMF asks Pakistan to meet demands within 3 weeks to revive loan programme

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 to require at least $39.5-billion external financing in 2023: IMF

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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Lack of tenable answers to IMF may delay release of funds to Pak: Report

Pakistan had in the current fiscal, estimated flood-related reconstruction costs at PKR 251 billion (USD 1.1 billion)

IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

But govt asserts public debt is sustainable

IMF approves new program to support Ukraine's macroeconomic stability

The programme is aimed at mobilising state budget revenues, strengthening the financial sector, and improving management transparency and effectiveness for state-owned enterprises

Will IMF loans to Pakistan continue after fuel prices are slashed?

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

IMF approves deal to provide $3 bn support package to cash-strapped Egypt

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

G20 mulls converting its global infra hub into a multilateral body

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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Broke Pakistan may seek China's help on debt bail-out as forex falls

Pakistan's external debts, which were at $65 billion in 2015, have now touched $130 billion

Controlling high food inflation: The world is on a wing and a prayer

An IMF paper sheds light on the issue of persistently high global food inflation, and the prognosis is not comforting

Sri Lanka weighs favoured creditor clause to speed up debt talks with IMF

Sri Lanka is pursuing pacts with commercial and bilateral lenders to meet conditions for the IMF to disburse a $2.9 billion loan

Poor countries need nearly $500 bn in external financing through 2026: IMF

The IMF said the fiscal position of low-income countries "is increasingly under stress"

IMF says low income nations need $500 bn in external financing through 2026

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

Ad industry pegs 2023 adex growth at 14-16% despite slower startup spends

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

IMF can't dictate to Pak govt, says Ishaq Dar over delay in review

"I do not care if they come, I don't have to plead before them. I have to look at Pakistan's interest first," he said

IMF says it fully supports India's G20 agenda of addressing urgent issues

The IMF fully supports the G20 agenda of India, which is planning to use the ongoing global crises as an opportunity to seek consensus on issues that require urgent attention, a senior official from the international financial body has said. India formally assumed the G20 Presidency on Thursday. They (India) are putting together a collective agenda for a much more prosperous future," Ceyla Pazarbasioglu, Director of the Strategy and Policy Review department at the International Monetary Fund (IMF), told a group of reporters ahead of her trip to China and India next week. "They (India) plan to use the ongoing (global) crises as an opportunity to seek consensus on issues that really require urgent attention, she said on Thursday. Pazarbasioglu was apparently referring to the food and energy crises due to the ongoing Russia-Ukraine war. The IMF fully supports the G20 agenda of India, she said. The theme of India's G20 presidency is One Earth, One Family, One Future. "This means tha

IMF may cut its China growth forecast as Covid curbs continue: Chief

The Washington-based crisis lender sees Chinese gross domestic product expanding 3.2% this year and 4.4% in 2023