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In a key development for economic recovery, the International Monetary Fund (IMF) has approved a $1 billion loan tranche for Pakistan under the Extended Fund Facility (EFF). The approval, which came despite India’s objections, highlights the IMF’s continued support for Pakistan’s financial reforms. The keyword Extended Fund Facility reflects the broader framework supporting the disbursement. …
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The IMF loan program for Pakistan is set for a critical review on May 9, when the International Monetary Fund’s Executive Board will meet to evaluate both the ongoing $7 billion Extended Fund Facility (EFF) and a new $1.3 billion climate resilience loan under the Resilience and Sustainability Facility (RSF). Disbursement of $1 Billion Expected …
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The World Bank has approved a $102 million loan for Pakistan’s Resilient and Accessible Microfinance (RAM) Project, aiming to improve access to microcredit and strengthen the country’s microfinance sector. This initiative will benefit nearly 1.9 million people, particularly low-income families struggling with financial challenges and climate-related shocks. Support for Vulnerable Communities The RAM Project will …
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Pakistan has begun policy-level discussions with the IMF to secure the next $1 billion tranche from its $7 billion loan program. These talks, running until March 14, will assess Pakistan’s economic progress and its ability to meet IMF conditions. The key focus areas include new taxation policies, energy sector reforms, and debt reduction strategies. New …
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The State Bank of Pakistan (SBP) is expected to announce its seventh consecutive rate cut on Monday as the country undergoes its first International Monetary Fund (IMF) review of a $7 billion bailout. With inflation at a near-decade low, analysts believe further easing is likely, which could help unlock additional IMF funding before the national …
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Prime Minister Shehbaz Sharif welcomed a $40 billion investment from the World Bank, highlighting its potential to drive Pakistan’s development. The investment will support various sectors and open new economic opportunities, the PM said in a statement released Monday. World Bank’s Country Partnership Framework The World Bank’s investment falls under its 10-year Country Partnership Framework …
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Pakistan has finalized a $1 billion loan agreement with two Middle Eastern banks to stabilize its financial position and support ongoing reforms. The finance minister, Muhammad Aurangzeb, announced the deal on Tuesday during the World Economic Forum in Davos, emphasizing the critical role of foreign financing in addressing the country’s economic challenges. Key Details of …
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Pakistan received a significant boost to its foreign exchange reserves after the China Development Bank approved a $700 million loan facility. Finance Minister Ishaq Dar announced the news on Twitter, stating that the loan is expected to be received by the State Bank of Pakistan this week. The loan will help bolster Pakistan’s forex reserves, …
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Pakistan became the victim of climate change earlier this year when heavy floods strangle the provinces of Sindh and Khyber Pakhtunkhwa. Abnormal rains, thunderstorms, and melting glaciers all surrounded Pakistan and resulted in immense damage. Due to floods, more than 1700 people died among which many were women and children. Floods damaged countless properties, villages, …
Continue reading “Pakistan Gets $475 Million Loans from ADB”
