Stay Connected. Stay Informed.
Union Finance Minister Nirmala Sitharaman with Deputy Managing Director of the International Monetary Fund Gita Gopinath, during a meeting, in New Delhi. | Photo Credit: PTI India is open to exploring more ways to increase its collaboration with the International Monetary Fund (IMF), Finance Minister Nirmala Sitharaman said during a meeting with IMF’s First Deputy…
Under the IMF deal, Pakistan has agreed to increase tax revenues through measures of 1 and a half per cent of GDP in FY25 and three per cent of GDP over the programme. Pakistan and the International Monetary Fund (IMF) have agreed on a $7 billion aid package spread over more than three years to…
Kenya’s President William Ruto. The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. | Photo Credit: AP The ballooning debt in East Africa’s economic hub of Kenya is…
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…
Read More “Sri Lanka strikes private debt restructuring deal with bondholders” »
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…
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…
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…
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…
Read More “IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan” »
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…
Read More “What is the outlook on the global economy? | Explained” »
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…
Read More “IMF ready to support Sri Lanka’s discussions with bondholders” »