IMF raises India’s GDP growth forecast, cuts China’s
“Growth in India is projected to remain strong, at 6.3 percent in both 2023 and 2024, with an upward revision of 0.2 percentage point for 2023, reflecting stronger than expected consumption during April-June,” the IMF said in its annual publication, World Economic Outlook (WEO), released on Tuesday.
IMF bailout conditions make life harder for ordinary people in Pakistan
While the strict terms and conditions by the IMF are being complied through difficult decisions by the caretaker government, which has been increasing prices of petroleum products, electricity and gas tariffs every fortnight, directly affecting the levels of inflation in the country and having damaging effects on lives of the locals, the broader intent is streamline domestic and external imbalances through policy anchoring.
Collect more taxes from rich and protect the poor: IMF tells Pakistan
IMF Managing Director Kristalina Georgieva has had a meeting with Pakistan's caretaker Prime Minister Anwaarul Haq Kakar on the sidelines of the United Nations General Assembly (UNGA), urging Pakistan to ensure that it taxes the rich and protects the poor.
IMF team to seek assurance from Imran Khan's PTI on bailout package
The IMF's resident representative Esther Perez Ruiz said in a statement that the meetings with political parties were to "seek assurances of their support for the key objectives and policies under a new IMF-supported program ahead of the approaching national elections", Geo News reported.
US played key role to help Pakistan in securing IMF bailout
The recent staff-level agreement (SLA) came after an eight-month delay in releasing funds from a 2019, $6 billion loan. “The United States supported Pakistan throughout the process but also insisted that they implemented the reforms they agreed with the IMF,” a diplomatic source said, Dawn reported.
Pakistan asks US to help revive stalled IMF programme
Top official sources said the IMF raised different kinds of objections and asked Islamabad to bring in changes in the budget for 2023-24 in order to align the allocations with the IMF requirements. But Islamabad was asking the IMF staff to accomplish the pending 9th Review as a standalone for moving towards the release of $1.2 billion tranche, The News reported.
Pakistan slams IMF's 'intervention' in internal matters
"Pakistan's conduct is in line with the law," the state minister said, terming IMF Mission Chief for Pakistan Nathan Porter's statement - regarding the political situation in Pakistan - "extraordinary". While the IMF does not comment on domestic politics, Porter had said that the Fund hopes "a peaceful way forward is found in line with the Constitution and the rule of law".
Pakistan's slant towards China, Iran seen as most likely reason for delay in IMF bailout
However, this time the Pakistan Democratic Movement (PDM)-led coalition government is facing difficulties as the Washington-based lender is not showing any leniency. Pakistan entered a 39-month, $6 billion IMF programme in 2019 which was extended till June 2023 and added another $1 billion in August last year when the board approved a combined seventh and eighth tranche.
As political tremors send Pak rupee tumbling, fears of economic meltdown loom
Amid escalating political tensions after the arrest of Imran Khan, resulting in a serious law and order situation in Pakistan, the economic sector has been hit by yet another serious damage as the rupee felt the heat and melted down by at least 3 per cent pushing its value against the US dollar to a record-high Rs 298.93 in the inter-bank.