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.
The horror-comedy film 'The Raja Saab', starring Prabhas, Sanjay Dutt, and Nidhi Agarwal, was rel
In the 20th match of IPL 2026, Royal Challengers Bangalore (RCB) are facing off against the Mumba
Indian External Affairs Minister Dr. S. Jaishankar said in a statement on Friday that India will
The 18th edition of the Indian Premier League (IPL) can start on 22 March. The opening match of I
Rajasthan Royals and Delhi Capitals will try to forget their defeat in the last match and make a
The fire of violence that broke out after the attack on a procession in Nuh spread across South H
The Central Water Commission on Friday said that 22 river monitoring stations across the country,
An earthquake of magnitude 5.0 on the Richter scale hit the Morigaon district of Assam in the ear
IPL Team Sponsorship Crosses ₹1,000 Crore Mark: Here's What It Means—Explained Simply
In the current era, the IPL has evolved from being merely a cricket league into a major business
All the central unions including farmer organizations have called for Bharat Bandh across the cou
