Pakistan, which is facing a cash crunch, has got a big relief. A staff-level agreement has been reached between the Government of Pakistan and the International Monetary Fund (IMF) on a 'Standby Arrangement' worth $3 billion. The agreement in Pakistan was long awaited.
Explain that Pakistan's economy has been in a continuous decline mode for the last several years, due to which inflation has become uncontrolled and the pressure on the poor people is increasing. This has made it almost impossible for a large number of people to make a living.
"I am pleased to announce that the IMF team has contributed SDR 2,250 million (about $3 billion, or 111 percent of Pakistan's IMF quota)," Nathan Porter, International Monetary Fund's mission chief in Pakistan, said in a statement on Thursday. A staff-level agreement has been reached with the Pakistani authorities on a nine-month stand-by arrangement (SBA) in the amount of Rs.
The new SBA builds on efforts by officials under Pakistan's 2019 EFF-supported program, which expires at the end of June. The agreement is subject to approval by the IMF's Executive Board. The Executive Board may consider this request by mid-July. This funding of three billion dollars in nine months is more than expected for Pakistan. The country was waiting for the release of the remaining $2.5 billion out of an agreed $6.5 billion bailout package in 2019, which expires on Friday.
"The new SBA will support the authorities' urgent efforts to stabilize the economy from recent external shocks, preserve macroeconomic stability, and provide a framework for securing financing from multilateral and bilateral partners," the statement said.
It added that because of the daunting challenges ahead, full and timely implementation of the program will be critical to its success. Pakistan's economy has faced several challenges in recent times, including devastating floods last year and a rise in commodity prices following the start of the Russia-Ukraine conflict.
Oasis School in Hazaribagh district of Jharkhand remains the center of CBI's investigation in the
The controversy that started in Maharashtra over the Marathi language is increasing. After Shiv S
Rajpal Yadav is in the news for his check-bounce case. He recently received interim bail and was
On the one hand, while preparations are being made on a war footing for the Maha Kumbh to be held
Salaar Collection Day 4: 'Salaar' is not stopping, collected such a huge amount in just four days
Salaar Box Office Collection Day 4: The film 'Salaar: Part 1-Ceasefire' from the south state is m
Natural calamity has created havoc in Himachal Pradesh. As many as 1,220 roads were closed in Man
Donald Trump: 'This will not affect foreign language films,' says PGOI president on Trump's decision
US President Donald Trump recently announced a 100% tariff on films produced outside the U.S. In
In the capital, air quality remained a respiratory hazard as temperatures plummeted due to increa
Fans were eagerly waiting for Surya's film Kanguva. Today this wait is over. Kanguva has been rel
Following its resounding victory in the 2026 West Bengal Assembly elections, the Bharatiya Janata
