IMF to release tranche on Monday after board meeting: Miftah Ismail
Minister for Finance and Revenue Miftah Ismail Friday said the International Monetary Fund (IMF) would release the tranche (worth US$1.17 bn) to Pakistan after its board meeting on Monday. Addressing a press conference here, the minister said Pakistan had already fulfilled all the requirements of the IMF and it is very likely that the board…
Adil Aziz
IMF loan disbursement to start by August end: Miftah
Federal Minter for Finance, Miftah Ismail said here on Tuesday that loan disbursements under the Extended Fund Facility (EFF) would start by the end of this month as the International Monetary Fund (IMF) board is expected to meet on August 29. Addressing a press conference, the minister said that Islamabad had received Letter of Intent…
Macro economic stability forthcoming with IMF programme resuming before end of August: Finance Minister
Federal Minister for Finance & Revenue, Dr. Miftah Ismail Tuesday clarified that, “Macro economic stability was forthcoming with the IMF programme resuming before end of August as all conditionalities had been met. Furthermore, the balance of payments position is now well under control. With increased hydel power, lower energy demand and lower oil prices, Pakistan…
Rupee rebounds against dollar on positive IMF news
The Pakistan rupee on Wednesday took a big jump of Rs 9.59 against the US dollar in the interbank trading and closed at Rs 228.79 against the previous day’s closing of Rs 238.38. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at…
Agreement reached with IMF, Pakistan to receive $1.17 billion soon: Miftah
Pakistan and the International Monetary Fund (IMF) have reached an agreement on policies to complete the combined seventh and eighth reviews of Extended Fund Facility (EFF). Under the agreement, Pakistan would receive $1.17 billion soon, tweeted Federal Minister for Finance and Revenue, Miftah Ismail here on Thursday. The minister thanked prime minister, fellow ministers, secretaries and especially…
Govt committed to revive IMF programme for sustainable growth: Finance Ministry
The government is committed to revive the International Monetary Fund (IMF) programme and put the economy of the country back on a sustainable growth path, Finance Ministry said here Thursday. In a statement issued after the conclusion of talks with the fund, the finance ministry said, Pakistan’s team led by Finance Minister Miftah Ismail held…
IMF delays programme revival for Pakistan, stresses removing fuel, energy subsidies
The International Monetary Fund (IMF) Wednesday concluded talks with the Pakistan team for the revival of the Extended Fund Facility Programme and stressed taking concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget, to achieve program objectives. An IMF mission led by Nathan Porter held both in-person…
Pak, IMF kick off 7th review on EFF programme
Federal Minister for Finance and Revenue, Miftah Ismail held a virtual meeting with International Monetary Fund (IMF) Mission Chief on Wednesday, kicking off the 7th review on Extended Fund Facility (EFF) of the fund. According to press statement issued by the finance ministry, the meeting was attended by Minister of State for Finance and Revenue,…
Dr. Murtaza Syed assumes position of Acting Governor
In light of Section 10(2) of the State Bank of Pakistan (SBP) Act 1956 (amended), Dr. Murtaza Syed, being the senior most Deputy Governor, has assumed the position of Acting Governor SBP, with effect from May 5, 2022. It may be mentioned here that the term of Dr. Reza Baqir (former Governor SBP) ended on…
No fresh borrowings from SBP, clarifies finance ministry
The Ministry of Finance here on Thursday clarified that there had been no fresh borrowings by the government from the State Bank of Pakistan (SBP). “In fact the government has been retiring its previous stock of debt with the SBP on its maturity,” the ministry said in a statement while responding to news circulating on…