• Thursday, July 16, 2020

IMF approves $1.39bn in COVID-19 aid for Pakistan

Discussion in 'COVID-19 Coronavirus' started by CrazyZ, Apr 17, 2020.

  1. CrazyZ

    CrazyZ SENIOR MEMBER

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    IMF approves $1.39bn in COVID-19 aid for Pakistan
    By Reuters on April 17, 2020
    • The funds will help Pakistan deal with a decline in international reserves.
    • The funds allow it to fund targeted and temporary spending increases aimed at containing the pandemic and mitigating its economic impact.

    WASHINGTON: The International Monetary Fund on Thursday said its executive board had approved $1.386 billion in emergency financing to Pakistan to meet balance of payments needed stemming from the novel coronavirus pandemic.

    The funds, to come from the IMF's Rapid Financing Instrument, will help Pakistan deal with a decline in international reserves and allow it to fund targeted and temporary spending increases aimed at containing the pandemic and mitigating its economic impact, the IMF said.

    IMF First Deputy Managing Director Geoffrey Okamoto said “expeditious donor support was needed to close the remaining balance of payments gap and ease the adjustment burden."

    https://www.brecorder.com/2020/04/17/590031/imf-approves-1-39bn-in-covid-19-aid-for-pakistan/
     
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  2. flameboard

    flameboard FULL MEMBER

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    it says "financing"
    sad Pakistan has to take a loan inshAllah the nation is headed towards better times
     
  3. khansaheeb

    khansaheeb ELITE MEMBER

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    The loan is worse than Corona, I wonder how much bribes were paid , IMF always give sweeteners to facilitate loans.
     
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  4. PakFactor

    PakFactor SENIOR MEMBER

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    This is getting ridiculous --
     
  5. Yaseen1

    Yaseen1 ELITE MEMBER

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    i think it is better to end lock down than to approach imf for loan and aid
     
  6. nahtanbob

    nahtanbob BANNED

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    It ain't aid. it is a loan abeit on concessional terms
     
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  7. Mrc

    Mrc ELITE MEMBER

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    And yet india remains a poor country. It's low income country like Pakistan Sri Lanka and Bangladesh... Its not a medium income country like turkey or Malaysia or a high income country like Japan or western world

    Come back to reality
    There are several other countries in g 20 with rampant poverty but i think India is poorest
     
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  8. Raj-Hindustani

    Raj-Hindustani FULL MEMBER

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    upload_2020-4-17_11-0-34.jpeg
     
  9. pkd

    pkd FULL MEMBER

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  10. newb3e

    newb3e ELITE MEMBER

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    hahahahaha

    how much bakshaheh has indian indian ed till now?
     
  11. Morpheus

    Morpheus FULL MEMBER

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    I think this is part of the G20 relief program announced to shelter countries that have been hit by the corona virus.

    https://timesofindia.indiatimes.com...aid-for-war-on-virus/articleshow/74940177.cms

    https://defence.pk/pdf/threads/india-is-officially-the-biggest-aid-recipient-in-the-world.661145/
     
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  12. Raj-Hindustani

    Raj-Hindustani FULL MEMBER

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    India is 6 times bigger then Pakistan but still our PM does not come with Catora on television almost on a regular basis.

    Being a poor country, we still are a better position if we compare to Pakistan on the economy level.

    Yes, being a more populated country. we are facing bigger challenges, also we have more poor people and where people are not having access to the basic amenities and are living below poverty line.
    ---------------------------------------------------------------------------

    Compare To India, I see more failure of Pakistan government and army (because they were in central power) between 1947 to 2020. Pakistan got a good peace of land after independence but still struggling to develop in past 70 years.

    Looks at Bangladesh, They are doing far much better than Pakistan.

    If I will just compare Ratio wise between India and Pakistan, Then I find Pakistan situation is more worst then India.
     
  13. Morpheus

    Morpheus FULL MEMBER

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    https://defence.pk/pdf/threads/india-is-officially-the-biggest-aid-recipient-in-the-world.661145/
     
  14. Raj-Hindustani

    Raj-Hindustani FULL MEMBER

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    Just divide by 6............. you will get the real answer because India is almost 6 times more populated then Pakistan.

    And just a look for Pakistan status during 1980s (When you were support USA against Soviet) and then again from 2000 to 2020... you will get the real picture.

    India situation was not good before 1990.. economy reforms happened in India from then only situations are getting improve.
     
  15. CrazyZ

    CrazyZ SENIOR MEMBER

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    This was a smart move. With this financial package, we should be able to pass by this period with okay macroeconomic position. Combined with interest rate cuts, we should grow faster in the future. We just need to keep the economic hitman....the PPP away from national power and our future will be bright.