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Inflation in Pakistan rose to 21.3% in June, the highest since December 2008 when inflation stood at 23.3%. [41] Finance Minister Miftah Ismail said that a loan of $2.3 billion from a Chinese consortium of banks had been credited to the Pakistani central bank's account in late June. [42] [41]
The funds are the final tranche of a $3 billion last-gasp rescue package Pakistan had secured last summer, which averted a sovereign debt default. Islamabad is also seeking another long-term bailout.
Pakistan will "absolutely not" default on debt obligations despite catastrophic floods, the finance minister said on Sunday, signalling there would be no major deviation from reforms designed to ...
(Bloomberg) -- Pakistan Finance Minister Miftah Ismail said the government was committed to reviving the International Monetary Fund program and putting the country back on a “sustainable growth ...
During that period economy of Pakistan remained in poor shape and Pakistan had to go to IMF again for record third in the period of Bhutto government. [3] As per few sources, this was the most corrupt government in the history of Pakistan. This time Pakistan got an amount of US$294,690 (equivalent to $589,251 in 2023) on 13 December 1995. [3]
The COVID-19 pandemic in Pakistan is part of the pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).The virus was confirmed to have reached Pakistan on 26 February 2020, when two cases were recorded (a student in Karachi who had just returned from Iran and another person in the Islamabad Capital Territory). [3]
The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default. An IMF ...
The nation encountered a lack of economic infrastructure, financial resources, and an industrial foundation, particularly with poverty rates ranging from 55% to 60% in the West Pakistan region. Due to limited capital in the small private sector, the government opted to focus on the public sector to foster economic and industrial development.