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Articles for tag: bailout, eyes, FinMin, fresh, IMF, needed, Pakistan, reforms, structural, years

April 16, 2024

News Desk

2-3 years needed for structural reforms, FinMin says as Pakistan eyes fresh IMF bailout

Finance Minister Muhammad Aurangzeb speaking during an interview with the American think tank Atlantic Council. — X/@Financegovpk Aurangzeb is in the US to attend IMF and World Bank meetings. He says that Pakistan entered 2024 in a better economic condition. Pakistan is facing the effects of climate change, he adds. WASHINGTON: Finance Minister Muhammad Aurangzeb has said Pakistan needs two to three years to implement structural reforms set by the International Monetary Fund (IMF). Speaking at the Atlantic Council think tank in Washington, Aurangzeb said that Pakistan does not need more policy prescriptions as it knows what it needs to

April 12, 2024

News Desk

Ahead of IMF meeting, PM, FinMin discuss economic challenges facing Pakistan

Finance Minister Muhammad Aurangzeb (left) meets Prime Minister Shehbaz Sharif on April 12, 2024. — APP Ahead of his upcoming visit to the United States (US), Finance Minister Muhammad Aurangzeb briefed Prime Minister Shehbaz Sharif on Friday about his scheduled meetings with officials of the International Monetary Fund (IMF), World Bank (WB) and other institutions . According to a statement issued by the Prime Minister’s office, the meeting discussed issues related to the overall economic situation of the country. A day earlier, IMF chief Kristalina Georgieva confirmed that Pakistan is in discussions with the fund on a possible follow-up program

March 13, 2024

News Desk

FinMin Aurangzeb sees ‘permanence’ in macro stability

Pakistan well-placed ahead of second and final IMF SBA review, says finance minister Newly appointed Finance Minister Muhammad Aurangzaib poses after being sworn in in Islamabad on March 11, 2024. — Ministry of Finance Aurangzeb says that the first quarter of 2024 is better than 2023. “There is macroeconomic stability, the exchange rate is also stable.” Finance Minister says it will reduce revenue leakages. Finance Minister Muhammad Aurangzeb aims to ensure that Pakistan moves towards permanent macroeconomic stability, which will later translate into growth as the nation faces economic constraints. “The first quarter of 2024 is better than the first

March 9, 2024

News Desk

Finmin candidate likely to give up Rs 30 million monthly salary, Dutch citizenship

Muhammad Aurangzeb, the country’s potential finance czar, currently ranks among the top 5 highest paid bank CEOs This screenshot taken on March 5, 2024, from the Pakistan Expo 2020 YouTube video posted on October 5, 2021, shows Muhammad Aurangzeb talking about investment opportunities. — YouTube/PakistanExpo Muhammad Aurangzeb met with Nawaz Sharif. Aurangzeb applied to renounce his dual citizenship. Chances of Ishaq Dar becoming finance minister are slim. ISLAMABAD: Muhammad Aurangzeb, the likely finance minister of Pakistan, is expected to give up his Rs 30 million monthly salary package and Dutch citizenship to take up the important post, The news reported

December 13, 2023

News Desk

Pakistan expects $4.5bn inflows this year: FinMin Akhtar

Major creditors include the Asian Development Bank, the World Bank and the Asian Infrastructure Investment Bank Four thousand US dollars are counted by a banker who counts the currency at a bank in Westminster, Colorado, November 3, 2009. — Reuters The Asian Infrastructure Investment Bank among the major creditors. The country is currently meeting its debt obligations, the minister says. The stability of the external sector has been achieved, the minister adds. Caretaker Finance Minister Dr Shamshad Akhtar said Pakistan expects to raise around $4.5 billion from multilateral and bilateral sources, excluding the International Monetary Fund (IMF), in the current

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