The International Monetary Fund (IMF) has said that Pakistan’s new $3 billion loan programme would anchor the country’s immediate efforts to stabilise the economy and ensure that the current balance of payments need was fulfilled. Earlier this week, the global lender’s executive board green-lit the nine-month standby arrangement (SBA) in order “to support the authorities’ economic stabilisation
Equities underwent yet another bullish session on Wednesday with the benchmark index crossing the 45,500-point psychological barrier. Topline Securities said the much-awaited vote at the board meeting of the International Monetary Fund (IMF) on Pakistan’s $3 billion bailout package helped improve sentiments. Investors opted for strengthening their equity positions by putting more money ahead o
MANY years ago, I was asked the following question: is it true that when a country gets onto an IMF programme it is never able to exit and remains in the ‘clutches’ of the lender forever? The answer was obvious: ‘no, it is not true’. And then came the inevitable follow-up remark: ‘I’ve heard otherwise, somebody was telling me it is true.’ There is no debating or conversing with people like this
THERE is no bigger threat to Pakistan’s macroeconomic and financial stability than climate shocks. Around this time last year, we were hit by floods costing $30 billion that have derailed economic growth and development. This sad fact was not lost on the International Monetary Fund (IMF). It has now integrated climate risks as a touchstone in all its lending operations. The staff-level Stand-by
Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, Petroleum Minister Musadik Malik said on Wednesday, highlighting the success of a first deal in helping the cash-strapped nation. Malik told reporters there was no scenario under which the country was “not benefiting” from Russian crude. “We are finalising another cargo,” he said. Malik said the first cargo