Pakistan clinches deal with IMF over stalled bailout package

[SeaMermaid]

Govt finalises deal with IMF mission over $6.5 billion lending programme, unlocking critical funds for the economy

ISLAMABAD:
The government of Pakistan on Thursday managed to finalise a deal with the visiting International Monetary Fund mission over the terms of its $6.5 billion lending programme, unlocking critical funds for the ailing economy.

Sources confirmed to Express News that the two sides had finally reached consensus over the details of lending programme. They said that Prime Minister Shehbaz Sharif has also approved the deal and all mattters over the bailout program have been settled.

Finance minister Ishaq Dar is expected to announce further details regarding the talks shortly, the sources added.

Also read: Foreign exchange reserves fall below $3b to nine-year low

The mission has been in Islamabad since Jan 31 to sort out differences over the government's fiscal policy that had stalled the release of over $1 billion from the $6.5 billion bailout package signed in 2019.

The IMF funding is crucial for the $350-billion Pakistan economy facing a balance-of-payments crisis with the country's foreign exchange reserves slipping below $3 billion for the first time in nine years on Thursday, reducing import capacity to just over two weeks.

 

[HAIDER]

Govt finalises deal with IMF mission over $6.5 billion lending programme, unlocking critical funds for the economy

ISLAMABAD:
The government of Pakistan on Thursday managed to finalise a deal with the visiting International Monetary Fund mission over the terms of its $6.5 billion lending programme, unlocking critical funds for the ailing economy.

Sources confirmed to Express News that the two sides had finally reached consensus over the details of lending programme. They said that Prime Minister Shehbaz Sharif has also approved the deal and all mattters over the bailout program have been settled.

Finance minister Ishaq Dar is expected to announce further details regarding the talks shortly, the sources added.

Also read: Foreign exchange reserves fall below $3b to nine-year low

The mission has been in Islamabad since Jan 31 to sort out differences over the government's fiscal policy that had stalled the release of over $1 billion from the $6.5 billion bailout package signed in 2019.

The IMF funding is crucial for the $350-billion Pakistan economy facing a balance-of-payments crisis with the country's foreign exchange reserves slipping below $3 billion for the first time in nine years on Thursday, reducing import capacity to just over two weeks.

IMF don t need commitment, they want to see implementation. Because, its questions of IMF's creditability to other donor and loaner countries, financial institutions, and rating agencies.
When PM orders a new fleet of luxury cars, adds more cabinet ministers and increases perks and privileges.

Pakistan need to hit the rock bottom to fix the economy. Adhocism has ruined Pak. IMF terms and condition will suck the blood of poor people of Pakistan.

 

[IceCold]

Go to hell!

 

[Riz]

So we survived for another 3 months ? Imported gakoomat aor handlers na yeh 6 billion dollars khaa pee lainy hain

 

[HAIDER]

So we survived for another 3 months ? Imported gakoomat aor handlers na yeh 6 billion dollars khaa pee lainy hain

Pakistan needs around 25 billion dollars by June 2023. Massive taxes for people.

 

[delta2]

Bad news.

 

[VCheng]

The government of Pakistan on Thursday managed to finalise a deal with the visiting International Monetary Fund mission over the terms of its $6.5 billion lending programme, unlocking critical funds for the ailing economy.

Reneging on the commitments made shall begin in ..... 3, 2, 1. For the umpteenth time, of course.

 

[HAIDER]

Reneging on the commitments made shall begin in ..... 3, 2, 1. For the umpteenth time, of course.

Wish IMF let freefall the economy, otherwise this adhocism not now but later brings a much bigger storm...

 

[Darth Vader]

So that was the reason Uncle Asim went to States?

 

[VCheng]

Wish IMF let freefall the economy, otherwise this adhocism not now but later brings a much bigger storm...

The IMF is bound by its charter to help its member states. The decision lies with the member state to approach IMF or not.

 

[Darth Vader]

Wish IMF let freefall the economy, otherwise this adhocism not now but later brings a much bigger storm...

Yeah, not gone happen, a bit unstable Pakistan is in everyone's interest.

Uncle Sam gets Cheap, and very powerful pawns in the region, who will do anything to keep Uncle Sam happy.

Generals keep politicians & judiciary in Check.

while uncle sam provides peanuts to Pakistan, Uncle sam will sell FULLY CANDY BARS to INDIA at friends and family discount package.

You can keep eye on, Iran, Afghanistan, India & China, if push comes to shove Military will allow Pakistani bases as well,

In regards to people WHO CARES, Pakistan has 200 million of these, even if some die, some get kidnapped by the Military, no one will care.

 

[delta2]

Yeah, not gone happen, a bit unstable Pakistan is in everyone's interest.

Uncle Sam gets Cheap, and very powerful pawns in the region, who will do anything to keep Uncle Sam happy.

Generals keep politicians & judiciary in Check.

while uncle sam provides peanuts to Pakistan, Uncle sam will sell FULLY CANDY BARS to INDIA at friends and family discount package.

You can keep eye on, Iran, Afghanistan, India & China, if push comes to shove Military will allow Pakistani bases as well,

In regards to people WHO CARES, Pakistan has 200 million of these, even if some die, some get kidnapped by the Military, no one will care.

Let it all burn down I say!

 

[Baburfromsarmarkand]

We need to become the IMF's biggest customer because when we owe them so much, "the bank has a problem"

 

[GodToons]

Property brokers in London, Dubai, and Toronto are dusting their proposals.

 

[HAIDER]

This is the next 5 year plan and PTI has to sign this. This is not 4th or last review,,, Otherwise.... Massive price inflation is coming.