Pakistan Implements Strict Reforms to Secure IMF Loan

03 Dec 2024

To secure a $1.1 billion loan from the IMF, Pakistan has enforced several tough measures. The government now mandates civil servants and their families to disclose their assets. Furthermore, it has eliminated tax exemptions and amnesties, according to reports. IMF Sets 39 Conditions The IMF has attached 39 conditions for...

In Financial Crunch, Pakistan Asks IMF For $1 Billion, Seeks Additional Support

25 Oct 2024

Pakistan has officially requested $1 billion in funding from the International Monetary Fund’s facility designed to assist low- and middle-income countries in addressing climate risks, Finance Minister Muhammad Aurangzeb announced on Thursday (October 24). “We have formally requested to be considered for this facility,” Aurangzeb told Reuters during the IMF/World...

IMF Cuts Borrowing Costs For Indebted Nations Amidst Rising Criticism

12 Oct 2024

The International Monetary Fund (IMF) has decided to lower borrowing costs for some of the world's most heavily indebted countries, responding to mounting criticism over what many view as excessively punitive fees during a period of elevated interest rates. The IMF's executive board announced a reduction in surcharges—additional fees applied...

Pakistan Economy In Resurgence With 3.07% Growth Sparks Hope For Stability

01 Oct 2024

Pakistan’s economy has outperformed expectations, recording a 3.07% growth in the second quarter, driven by support from the International Monetary Fund (IMF) and lower interest rates. The Pakistan Bureau of Statistics released this data on Monday, revealing that this growth surpassed the 2.7% forecast from a Bloomberg economist survey and...

Pakistan Secures $7bn IMF Loan As China, Saudi Step In Amid Economic Struggles

26 Sep 2024

The International Monetary Fund (IMF) has approved a $7 billion loan for Pakistan, providing a lifeline for the cash-strapped country. Prime Minister Shehbaz Sharif, who led the negotiations since June, expressed gratitude to IMF Managing Director Kristalina Georgieva and her team for their support. Sharif, speaking on the sidelines of...

Pakistan Set for 24th IMF Bailout Amid Economic Crisis

25 Sep 2024

Pakistan is on track to receive its 24th financial rescue since 1958, with the International Monetary Fund (IMF) expected to approve a new bailout. The IMF board is scheduled to meet on Wednesday to discuss the aid package, which is anticipated to be around $7 billion. Optimism from Pakistan's Finance...

World’s Most Indebted Countries: Know Where India Stands and Who Tops the List?

09 Aug 2024

According to World Statistics based on the IMF report, the list of the most indebted countries for 2022 ranks nations based on their debt as a percentage of their GDP. Here's the detailed list: 1. Japan: Japan tops the list with debt amounting to 216% of its GDP. 2. Greece:...

India Could Become a $55 Trillion Economy by 2047: IMF Executive Director

01 Aug 2024

Former Chief Economic Advisor and current IMF Executive Director, KV Subramanian, predicts India could achieve a staggering $55 trillion economy by 2047 if the nation sustains an 8% annual growth rate. While this ambitious target exceeds estimates from other organizations like Ernst & Young and Goldman Sachs, Subramanian's calculations consider...

IMD Forecasts 7% GDP Growth For India This 2024-25

16 Jul 2024

With Barely days left for the presentation of the Union budget for FY 2024-25, the international monetary fund has revised the growth from 6.8 percent to 7 percent. This development comes around the time, when IMF has predicted global growth, to be 3.2 percent. In addition, it has revised its...

Pakistan Secures $7 Billion IMF Aid To Address Economic Issues

13 Jul 2024

Pakistan and the International Monetary Fund (IMF) have reached a landmark agreement on a $7 billion aid package, aimed at stabilizing the nation’s struggling economy. This 37-month Extended Fund Facility (EFF) arrangement builds on the economic stability achieved under the 2023 Stand-by Arrangement (SBA). In an overnight statement, the IMF...