Category: LOAN
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PAKISTAN SECURES US$7 BILLION IMF LOAN TO STABILISE ECONOMY
ISLAMABAD, July 13 (Bernama-dpa) –- Pakistan and the International Monetary Fund (IMF) have agreed on a new US$7 billion loan programme to stabilise the fragile economy of the South Asian nation, reported German news agency dpa. The new 37-month deal is “subject to approval by the IMF’s Executive Board,” the IMF said in a statement.…
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Would rather resign than come under pressure: PM
Prime Minister Muhammad Shehbaz Sharif addressing officers during his visit to the headquarters of the Federal Board of Revenue on July 13, 2024. — APP ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday categorically told the Federal Board of Revenue (FBR) officers that he will resign but will not come under any pressure, adding that the…
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Pakistan, IMF seal deal for $7 billion fresh loan
PM Shehbaz expresses satisfaction. This 37-month programme aims to support govt’s steps to cement macroeconomic stability, says IMF statement. Finance minister says we need to ensure structural reforms. ISLAMABAD – Pakistan has reached a deal for a fresh $7 billion loan with the International Monetary Fund (IMF), the global lender has announced. In exchange for…
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Rupee poised for further consolidation amid IMF loan agreement
A trader counts Pakistani rupee notes at a currency exchange booth in Peshawar, Pakistan December 3, 2018. — Reuters Rupee likely to remain stable in short medium term. Local unit closed at 278.4 against dollar on Friday. Rupee-dollar parity has stabilised just below 280. KARACHI: The Pakistani rupee is expected to remain stable in the short…
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What will Pakistan do with the new loan?
Pakistan is just one step closer to clinching a new three-year deal with the International Monetary Fund (IMF). This news is something for the government to rejoice about after it was left scratching its head following the Supreme Court verdict in favour of the Pakistan Tehreek-i-Insaf (PTI) in the reserved seats case. It is a…
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IMF’s loan facility to Pakistan
• The International Monetary Fund (IMF) and Pakistan have agreed on a $7 billion aid package spread over more than three years to help the cash-strapped country deal with its chronic economic issues. • Building on the economic stability achieved under the 2023 Stand-by Arrangement (SBA), IMF staff and the Pakistani authorities have reached a…
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Moody’s doubts success of IMF loan
KARACHI: Moody’s Ratings anticipates that the International Monetary Fund (IMF) Executive Board will approve the $7 billion loan programme for Pakistan, but is doubtful about whether the country will complete the 37-month Extended Fund Facility (EFF), which includes tough structural reforms amid a politically weak government. In its commentary titled “Government of Pakistan – IMF’s…
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Sovcombank has launched a special loan program for the purchase of VGV cars
AK&M 17 July 2024 12:52 Sovcombank and the Chinese automobile brand VGV announce the beginning of cooperation. New VGV cars can be purchased under the subsidized loan program for up to 84 months without a down payment. Also, an installment plan is valid for the purchase of a car using the Halva card…
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Brightpoint wins $2.5M of Fort Wayne’s Legacy Fund to loan to small businesses | News
FORT WAYNE, Ind. (WFFT) — Fort Wayne City Council granted Brightpoint $2.5 million for its Small Business Loan Project Tuesday. That money will come out of the City’s Legacy Fund, which is meant to invest in transformational projects across the city. As of December 31, 2023, the account holds $36,674,431. The Legacy Joint Funding Committee originally…
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Maharashtra’s Abdul Sattar calls for farm loan waiver following Telangana model
On the heels of the Telangana Government’s recent order outlining the modalities for its farm loan waiver scheme, Abdul Sattar, Maharashtra’s Marketing Minister, has called for a similar initiative in Maharashtra. Sattar said that farmers in the state have been struggling for some time and urged the state government to announce a blanket loan waiver…
