IMF agrees to lend Pakistan $3 billion in a staff level agreement

Pakistan have reached an understanding with International Monetary Fund (IMF) in a staff level agreement. In the agreement it have been agreed that IMF will lend Pakistan with the remaining $3 billion USD in three upcoming installments. This is part of IMF bailout plan and related agreement which was reached in 2019. IMF have already payed Pakistan $6 billion USD, however, disbursement of remaining $3 billion were delayed due to disagreement between IMF and Govt of Pakistan on certain terms of the bailout plan. Now according to the latest news, IMF have agreed to resume the disbursement of funds to govt of Pakistan. However, as this have been decided in a staff level agreement, a confirmation and approval from the […]

No cheap fuel for the bikes and small cars, says IMF

The International Monetary Fund (IMF) have raised concern about the cheap fuel scheme, which government was planning to go ahead with. According to IMF representative in Pakistan, the government of Pakistan have not done any consultation about the scheme with IMF. Also IMF have rejected the initial proposal of scheme by Govt of Pakistan. IMF is however seeking more details on the scheme like costs, terms of operation and details on, how will the scheme identify the potential fraud and how will it cater with it. Also, IMF sees that the more proper way to benefit the eligible social circle will be through the direct cash transfer. So until the further review, IMF have shown the serious concern about the […]