Tag: International Monetary Fund

Sri Lanka strikes private debt restructuring deal with bondholders

July 4, 2024 admin

Sri Lanka State Minister of Finance Asanka Shehan Semasinghe. | Photo Credit: EMMANUAL YOGINI Sri Lanka has reached a debt restructuring deal with the international sovereign bondholders after protracted negotiations, state Finance Minister Shehan Semasingher said on July 4, calling it a “crucial step” in the cash-strapped country’s efforts to restore debt sustainability. In a…

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Pakistan President Zardari gives his assent to tax-laden Finance Bill criticised by opposition

June 30, 2024 admin

Pakistan president Asif Ali Zardari | Photo Credit: PTI Pakistan President Asif Ali Zardari on June 30 gave his assent to the government’s tax-heavy Finance Bill 2024, which drew sharp criticism from the Opposition which labelled it as an IMF-driven document that was harmful to the public for the new fiscal year, according to a…

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Pakistan to seek rollover of $12 billion debt to meet budget targets before IMF team’s arrival

May 10, 2024 admin

Representational image only. | Photo Credit: AFP Pakistan has decided to seek a rollover of around $12 billion debt from key allies such as China in the 2024-25 fiscal year to meet a whopping $23 billion worth of gap in its external financing as the federal government aims to achieve budget targets before the expected…

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Maulana Fazlur Rehman: India Dreaming Of Becoming Superpower, We Are Begging For Bankruptcy: Pakistan Leader

April 30, 2024 admin

Maulana Fazlur Rehman was speaking in the National Assembly Islamabad: Pakistan’s leading right-wing Islamic leader Maulana Fazlur Rehman on Monday came out in support of his erstwhile rival Pakistan Tehreek-e-Insaf, saying the opposition party has the right to hold rallies and even form a government. Rehman, the chief of his faction of the Jamiat Ulema-e-Islam…

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IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan

April 29, 2024 admin

The IMF has approved an immediate disbursal of USD 1.1 billion to Pakistan as part of a bailout package. | Photo Credit: REUTERS The International Monetary Fund has approved an immediate disbursal of USD 1.1 billion to Pakistan as part of a bailout package and said the country needs to take tough measures to bring…

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What is the outlook on the global economy? | Explained

April 20, 2024 admin

The story so far: The International Monetary Fund (IMF) released the latest global financial stability report on Tuesday warning about the risks to the global financial system from persistent high inflation, rising lending in the unregulated credit market, and increasing cyber-attacks on financial institutions. What is the IMF’s worry about inflation? The IMF has flagged…

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IMF ready to support Sri Lanka’s discussions with bondholders

April 18, 2024 admin

The International Monetary Fund (IMF) logo. File. | Photo Credit: Reuters The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on April 18. “We hope an agreement consistent with the parameters of…

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China reaffirms financial support for Sri Lanka

March 30, 2024 admin

This handout photo released by Sri Lankan Prime Minister’s Office on March 27, 2024 shows Sri Lanka’s PM Dinesh Gunawardena (left) with Chinese President Xi Jinping, before a meeting in Beijing. | Photo Credit: AFP China has said it would continue to support Sri Lanka, as the crisis-hit island nation’s Prime Minister on March 30…

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Sri Lankan Prime Minister Dinesh Gunawardena arrives on six-day visit to China

March 25, 2024 admin

Dinesh Gunawardena. File | Photo Credit: AP Sri Lankan Prime Minister Dinesh Gunawardena arrived at Beijing on March 25 for a six-day official visit during which he will hold talks with Chinese President Xi Jinping and Premier Li Qiang on ways to further deepen bilateral ties. “Mr. Gunawardena was received on his arrival by Chinese…

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South Sudan On Top With $492 GDP Per Capita

March 15, 2024 admin

South Sudan has severely limited economic growth and development. The International Monetary Fund (IMF) has released a report highlighting the world’s poorest countries based on GDP per capita adjusted for purchasing power parity (PPP). While GDP is a measure of a country’s total economic output, PPP takes into account the cost of living, providing a…

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