Page 3 - International Monetary Fund

IMF to hold virtual talks on Pakistan's budget amid security concerns

The International Monetary Fund will on Wednesday hold virtual discussions on Pakistan's upcoming budget as the visit of its mission to Islamabad was delayed due to security concerns in the region. The federal government is planning to unveil the budget for fiscal 2025-26 on June 2. The International Monetary Fund (IMF) talks will continue until May 16. The global lender has appointed a new mission chief to Pakistan and the mission is now expected to travel to Islamabad over the weekend, subject to the security situation, government sources told The Express Tribune on Tuesday. The IMF mission delayed its scheduled arrival here on Tuesday due to uncertainty caused by the ongoing India-Pakistan conflict that has affected air travel across the region. Virtual discussions are expected to be held from today. For the second and final leg of the talks, the IMF team is expected to arrive in Islamabad on Saturday and stay until May 23, the source said. The IMF's Resident Representative to

Pakistan: An economy on life support, strained by debt and weak reforms

Faces shaky recovery amid renewed tensions with India, surging debt, IMF dependence, weak reforms, and chronic structural and governance failures. SHIKHA CHATURVEDI & JAYANT PANKAJ explain

Why India abstained on IMF's $2.3 billion loan package for Pakistan

India abstained from voting on the IMF executive board's approval of two loan proposals worth $2.3 billion for Pakistan, officially recording its objections without casting a dissenting vote

IMF 'reimbursing' Pak for ordnance used to devastate border areas: Abdullah

Jammu and Kashmir Chief Minister Omar Abdullah on Saturday hit out at the IMF for granting a billion dollar loan to Pakistan, saying the global financial organisation was "essentially reimbursing" Islamabad for the ammunition used to devastate border areas of the Union territory. The International Monetary Fund on Friday approved the disbursement of around USD 1 billion to Pakistan under the Extended Fund Facility (EFF). "I'm not sure how the 'International Community' thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places," Abdullah said in a post on X. India abstained from the vote at the IMF, pointing out that rewarding continued sponsorship of cross-border terrorism sends a dangerous message to the global community, exposes funding agencies and donors to reputational risks, and makes a mockery of global values.

India abstains from voting on IMF's $2.3 billion loan to Pakistan

The Indian side raised the possibility of the funds being used for terror activities; both countries are in a military stand-off after Pak-backed terrorists killed 26 civilians at Pahalgam in Jammu an

India urges IMF to act cautiously on bailout package to Pakistan

India has expressed concern ahead of the IMF's decision on Pakistan's bailout package, urging the board to evaluate the country's past track record with such programmes

Union Bank's ₹7.25 cr book purchase faces heat amid Subramanian's IMF exit

Public sector lender Union Bank purchased 189,450 paperback and 10,422 hardcover copies of Krishnamurthy V Subramanian's book 'India@100: Envisioning Tomorrow's Economic Powerhouse' for ₹7.25 crore

Krishnamurthy Subramanian's termination was India's call, says IMF

Sources said the reasons for Subramanian's termination included alleged impropriety in using his position to promote and publicise his latest book India@100

Indian govt decided to terminate services of Subramanian: IMF

The International Monetary Fund on Monday said that the termination of services of Executive Director K V Subramanian was a decision taken by the Indian government. Government of India has terminated services of Subramanian six months ahead of his three-year tenure. The termination was effective April 30, 2025. However, reasons for Subramanian's exit have not been officially announced. "The appointment and termination of any member of the Executive Board is a decision for member countries to make. The termination of ED Subramanian is a decision by the Government of India. We wish him well in his future endeavours and look forward to working with his successor," IMF spokesperson said when reached out for comments. According to sources, concerns were raised over an "alleged impropriety" relating to the promotion and publicity of his latest book, 'India@100: Envisioning Tomorrow's Economic Powerhouse'. It is also alleged that Subramanian used his official position to pressurise some .

KV Subramanian to exit IMF role early, govt begins search for replacement

Krishnamurthy Subramanian is set to leave his IMF post early amid reported concerns over data issues and book promotion. Meanwhile, the Indian government begins searching for his replacement

Six month left, Krishnamurthy Subramanian's term cut short at IMF

Subramanian, who took up the IMF post in November 2022, represented India, Bangladesh, Sri Lanka, and Bhutan. As of May 3, the IMF's website lists the position as vacant

Islamabad calls India's IMF loan review push 'politically motivated'

Ahead of IMF's crucial review meeting next week, Pakistan has termed India's announcement that it will request the global lender to review Islamabad's financial support programme as politically motivated after the Pahalgam terror attack. The Express Tribune said Saturday quoting officials that India's attempt to involve the International Monetary Fund (IMF) is an extension of its political campaign to isolate Pakistan diplomatically. The IMF Executive Board is scheduled to meet Pakistan officials on May 9 for the first review of the Extended Funding Facility (EFF), and request for an arrangement under the resilience and sustainability facility. India on Friday said it will be asking global multilateral agencies, including the IMF, to have a relook at funds and loans provided to Pakistan, as New Delhi seeks to corner the neighbouring state diplomatically following the dastardly April 22 terror attack in Pahalgam which killed 26 tourists. The Express Tribune said officials argue that

India asks IMF to review loans to Pakistan, Indian govt source says

India suspended a critical river water sharing treaty and the two countries have closed their airspace to each other's airlines

India asks IMF to review loans to Pakistan after Pahalgam terror attack

This request comes after a deadly attack on tourists in Phalgam, Jammu and Kashmir, which has made tensions worse between the two countries.

Congress urges govt to oppose IMF's $1.3 billion loan consideration to Pak

This statement from Congress comes just days after the deadly terror attack in Jammu and Kashmir's Pahalgam region, which the party blamed on Pakistan

IMF praises Sri Lanka's steady economic reforms, investor focus

The International Monetary Fund (IMF) on Friday commended the Sri Lankan government, led by President Anura Kumara Dissanayake, for its continued commitment to the economic reforms initiated under the global lender's Extended Fund Facility (EFF). The IMF highlighted the administration's policy consistency as a key factor in maintaining investor confidence and ensuring macroeconomic stability. The new government's sustained commitment to programme objectives has enhanced confidence and ensures policy continuity. Going forward, sustaining reform momentum, including by reducing corruption vulnerabilities, is critical to safeguard the hard-won gains, durably restore macroeconomic and debt sustainability, and unlock robust and inclusive growth, the IMF said in a statement. The statement was issued as the IMF and Sri Lanka reached an agreement in Washington on the fourth review of the USD 2.9 billion EFF programme, which was originally approved in March 2023 to assist Sri Lanka in ...

Private investment in India is still a worry: IMF's Krishna Srinivasan

The IMF on Tuesday pared down its FY26 growth forecast for India by 30 basis points to 6.2 per cent, citing escalating trade tensions and global uncertainty in its latest World Economic Outlook

Finance secretary Seth to lead Indian delegation as FM cuts short US visit

"Finance secretary and secretary DEA Ajay Seth shall represent India in the absence of FM," a senior finance ministry official said

IMF cuts India's FY26 growth forecast to 6.2% amid trade tensions

The WEO stressed that swift escalation of trade tensions has generated extremely high levels of policy ambiguity, making it more difficult than usual to establish a central global growth outlook

N Chandrasekaran joins IMF advisory council on entrepreneurship & growth

The Council unites experts from business, finance, academia, and policymaking to discuss how macroeconomic and financial policies can foster innovation, entrepreneurship, and productivity