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Pakistan and the International Monetary Fund reached a preliminary agreement for the release of $1.1 billion from a $3 billion bailout following dayslong talks in Islamabad, the IMF said Wednesday.
In July 2024, Pakistan reached a staff-level agreement for a new US$7 billion loan deal with the IMF. [10] Later in September 2024, the executive board of the IMF approved a USD 7 billion loan for Pakistan, which the country will receive in installments over 37 months. [11]
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. "The IMF team has reached a staff-level agreement ...
Pakistan's sovereign dollar bonds rallied, with the 2036 maturity gaining the most, rising by 1.19 cents to trade at 74.79 cents on the dollar by 1132 GMT. (Reporting by Ariba Shahid in Karachi ...
The International Monetary Fund approved a much-awaited $3 billion bailout for Pakistan on Wednesday, the global lender said, a move that's likely to save the nation from defaulting on its debt ...
[22] [23] During the PTI period, Pakistan's total debt and liabilities increased by 80% while during three quarters of Fiscal Year 2021-22 the trade deficit rose 70% to $35.4 billion. [24] Due to high oil prices in the international market, Pakistan's oil import bill increased by 95.9% to $17.03 billion in the last ten-months of the PTI ...
The 2024–25 Pakistan Federal Budget is a financial statement of the government's estimated receipts and expenditures for the fiscal year that runs from 1 July 2024 to 30 June 2025. [ 1 ] [ 2 ] On 12 June 2024, finance minister Muhammad Aurangzeb presented the federal budget with a total outlay of Rs18.877 trillion. [ 3 ]
Pakistan's government also confirmed the deal and and hailed it. The release of the $700 million still must be approved by the IMF's management and executive board, though such approvals are ...