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Articles for tag: Agenda, finally, friendly, IMF, joins, Nations, Pakistan, Praises, support

September 12, 2024

News Desk

PM praises support from friendly nations as Pakistan finally joins IMF agenda

Prime Minister Shehbaz Sharif speaks during a federal cabinet meeting in Islamabad on September 12, 2024. — Screengrab/ Geo News. We must get rid of the debts, says the prime minister. “Friendly nations repeat history by supporting Pakistan”. The prime minister praises the “significant” cut in the monetary policy rate. The International Monetary Fund (IMF) has finally added Pakistan’s new 37-month extended facility to the agenda for its Executive Board meetings scheduled for September 25, with Prime Minister Shehbaz Sharif praising friendly nations for extending comprehensive support to help Islamabad secure the bailout. In a statement issued today, the global

September 9, 2024

News Desk

IMF yet to include Pakistan’s $7 billion EFF on Executive Board agenda

The International Monetary Fund (IMF) is yet to add Pakistan’s new 37-month Extended Facility (EFF) to the agenda for its Executive Board meetings scheduled till September 18, according to the Fund’s official website. The upcoming meetings, scheduled for September 9, 13 and 18, do not include the $7 billion EFF deal reached with Pakistan, local media reported. Earlier this year, Pakistan concluded a $3 billion Standby Arrangement (SBA) with the IMF, aimed at bolstering the country’s foreign exchange reserves and easing the strain on its external finances. Following the completion of the SBA, Pakistan and the IMF team reached a

September 4, 2024

News Desk

It is not on the IMF’s agenda, but Pakistan hopes to secure a bailout

Islamabad: Finance Minister Muhammad Aurangzeb said on Tuesday that the government was in the “advanced stages” of receiving assurances on external financing, but again gave no firm timetable for completing the pending $7 billion deal with the International Monetary Fund (IMF). . The statement came on the day the IMF released the calendar of executive board meetings till September 13 without putting Pakistan on the agenda. The reason Islamabad is off the schedule is the country’s inability to secure the rollover of $12 billion in old debt and another $2 billion in new loans. “In discussions with the IMF, we

August 26, 2024

News Desk

Pakistan loan approval ‘not on IMF agenda before September 4’

The International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. — Reuters The IMF publishes its board meeting schedule for loan sanctions. FinMin Aurangzeb last week dispelled doubts about IMF approval. Pakistan and the IMF reached an agreement on a 37-month loan agreement in July. The International Monetary Fund (IMF) has released the schedule of Executive Board meetings till September 4, 2024, with financially troubled Pakistan missing from the agenda, sources said. Despite that, the government remains optimistic that the country will secure approval for

August 25, 2024

News Desk

The real agenda is to revive the economy: Hussain

LAHORE: Federal Industries and Production Minister Rana Tanveer Hussain underlined the need to boost exports, saying Prime Minister Shehbaz Sharif is already working to revive Pakistan’s economy. “We need to improve production of raw materials, especially for dyes, chemicals and allied industries, to avoid imports as our import bill is much higher than exports,” he remarked while speaking to reporters after the opening of the 9th Color & Chem Expo at the Expo. Centre, Lahore. Pakistan exports goods worth $30 billion annually, while its imports are more than double the value of its exports. Acknowledging that the exports of India,

August 20, 2024

News Desk

Pakistan is not on the IMF’s August 28 agenda

A participant stands near an IMF logo at the 2018 International Monetary Fund – World Bank Annual Meeting in Nusa Dua, Bali, Indonesia, October 12, 2018. — Reuters Pakistan has yet to sign a Letter of Intent. Progress is being made in obtaining approval: Aurangzeb. Pakistan and the IMF reached a staff-level agreement in July. ISLAMABAD: Pakistan has yet to secure confirmation of a $3 billion to $5 billion external financing gap, five weeks after reaching a staff-level agreement on a new Extended Fund Facility (EFF) bailout package. Thus, Pakistan, so far, is unable to sign a Letter of Intent

August 12, 2024

News Desk

Prince Harry’s ‘crusade’ against the Home Office comes with a personal agenda

Prince Harry and Meghan Markle’s upcoming trip to Columbia shows that security concerns are a matter of ego. The Duke and Duchess of Sussex, who are preparing for their trip to support their charity efforts, are refraining from entering the UK due to personal preferences. Royal editor Nathan Kay tells the Express: “As the Duke and Duchess of Sussex prepare for their quasi-royal tour of Colombia, concerns have been raised about their choice to bypass the UK due to security concerns, which could potentially makes them miss Harry’s funeral. uncle, Sir Robert Fellowes.’ He further writes of the report: “The

July 18, 2024

News Desk

King Charles unveils Labor government’s legislative agenda amid pomp

LONDON: Britain’s King Charles unveiled Prime Minister Keir Starmer’s legislative agenda on Wednesday, promising a service government focused on reviving the economy and tackling issues from acute homelessness to the cost-of-living crisis. In a ceremony full of pageantry, before an audience of robed lords and lawmakers, Charles read out the laws the government is prioritizing after Starmer’s centre-left Labor Party won a large majority in this month’s election. The package of more than 35 bills will focus on growing the economy, reforming zoning laws to make it easier to build homes, and speeding up the delivery of major infrastructure projects,

July 17, 2024

News Desk

The new UK government will unveil an ambitious legislative agenda

LONDON: Britain’s new prime minister Keir Starmer will unveil his first package of proposed laws on Wednesday, outlining how he will honor his pledge to rebuild the country after years of weak economic growth and political turmoil. In a grand ceremony to mark the opening of the new parliament, King Charles will read out the laws the government wants the House of Commons to approve first after Starmer’s centre-left Labor Party won a commanding majority in this month’s national election. The package of more than 35 bills will focus on growing the economy, including reforms to make it easier to

May 26, 2024

News Desk

An agenda of deep reforms is proposed

Islamabad: Pakistan Institute of Development Economics (PIDE) on Saturday inaugurated Economy Festival 2024 to promote research for social transformation and progress. PIDE, in association with Research for Social Transformation and Progress (RASTA) program and Pakistan Society of Development Economists (PSDE), inaugurated the third Festival of Economics – EconFest at Gandhara Citizens’ Club, Fatima Jinnah Park, on Saturday. The former vice-president of the Planning Committee and Vice-Chancellor of PIDE, Dr. “Our aim is to dismantle outdated colonial institutions that have long fostered suspicion of markets, imposed restrictive measures such as DC rates and hindered technological progress and the development of local

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