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On 30 June 2023, the IMF and Pakistan reached an agreement at the staff level for a stand-by arrangement worth $3 billion. This agreement came at a critical time for Pakistan, as it was facing the risk of defaulting on its financial obligations. [9] In July 2024, Pakistan reached a staff-level agreement for a new US$7 billion loan deal with the ...
The development comes more than two months after the IMF reached a staff-level agreement with Pakistan for the new loan. It also came a day after officials said the global lender's executive board would approve the loan on Wednesday, adding that Pakistan had met all the conditions set by the lender.
Thursday's announcement comes two months after the IMF said it had reached a staff-level agreement with Pakistan for the new $7 billion loan deal. Pakistan is currently facing one of its worst economic crises and Sharif has expressed hope that the country would be able to reduce its reliance on foreign loans in the years to come.
KARACHI (Reuters) -Pakistan is looking to clinch a staff level agreement on an International Monetary Fund bailout of more than $6 billion this month after addressing all of the lender's ...
The deal comes after the IMF mission held five days of talks with Pakistani officials to review the fiscal benchmarks set for the loan. "Pakistan's economic and financial position has improved in ...
The IMF staff continues a dialogue with authorities on needed longer-term refo ... 2024 at 1:54 PM ... -Pakistan plans to seek a new loan of at least $6 billion from the International Monetary ...
The IMF is seeking to fund its program and secure $7 billion for debt repayment, current account deficit financing, and increasing foreign exchange reserves. The talks between Pakistan and the IMF were delayed due to concerns over the credibility of the government's assurances and the reliability of foreign loans.
The approval for the IMF loan came a day after Saudi Arabia deposited $2 billion into Pakistan’s central bank. On Wednesday, the United Arab Emirates also deposited $1 billion to the central ...