https://www.indiatoday.in/world/story/p ... 2022-05-18
Pak begins talks with IMF to resurrect enhanced bailout package to support its sagging economy
Pakistan initiated talks with the International Monetary Fund (IMF) on Wednesday to resurrect an enhanced bailout package to support its sagging economy.
Press Trust of India, Islamabad, May 18, 2022
Talks between Pakistan and the International Monetary Fund began on Wednesday to resurrect an enhanced bailout package to support the sagging economy of the cash-strapped country.
Pakistan has repeatedly been seeking international aid to support its failing economy.
The talks are being held in the Qatari capital Doha, the finance ministry tweeted. The negotiations are expected to continue into next week, it said.
Finance Minister Miftah Ismail, Minister of State Aisha Ghous Pasha, Finance Secretary Hamed Yaqoob Shaikh, State Bank of Pakistan (SBP) Acting Governor Murtaza Syed, Federal Board of Revenue (FBR) Chairman Asim Ahmad and other senior officials from the finance division are participating in the talks taking place virtually.
Ismail who travelled to Washington last month and met with the Fund officials, said that the effort was not just to revive the USD 6 billion IMF bailout package signed by former prime minister Imran Khan in 2019 but also to add another USD 2 billion to it.
The 2019 agreement has never been fully implemented due to the failure of Khan’s government to fulfil its commitments made with the fund, which so far has released only USD 3 billion under the agreed programme.
Ismail said he had also requested the global lender to extend the programme for one year till June 2023. Pakistan would also try to secure the release of the next tranche of USD 1 billion before the end of this financial year on June 30.
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https://www.indiatoday.in/top-stories/s ... 2022-04-25
Cash-strapped Pakistan, IMF agree to extend stalled bailout package, increase loan size to USD 8 billion
According to media reports, Pakistan and the International Monetary Fund (IMF) have agreed to extend the stalled bailout package and increase the loan size to USD 8 billion.
Press Trust of India , Islamabad, April 25, 2022
Cash-strapped Pakistan and the International Monetary Fund (IMF) have agreed to extend the stalled bailout package by up to one year and increase the loan size to USD 8 billion, giving breathing space to the new government led by Prime Minister Shehbaz Sharif, a media report said on Sunday.
The understanding was reached after the crucial talks between Pakistan's newly-appointed Finance Minister Miftah Ismail and IMF Deputy Managing Director Antoinette Sayeh in Washington, The Express Tribune reported, citing sources.
Subject to the final modalities, the International Monetary Fund (IMF) has agreed that the program will be extended by another nine months to one year as against the original end-period of September 2022, while the size of the loan would be increased from the existing USD 6 billion to USD 8 billion, the paper reported, citing sources.
The IMF is expected to issue a statement on Monday on the development.
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Gautam