No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
No Result
View All Result
No Result
View All Result

Staff-level agreement reached between IMF and Pakistan

News Desk by News Desk
November 22, 2021
in Business, Featured
Reading Time: 1 min read
IMF-Pak
Share on FacebookShare on Twitter

ISLAMABAD: A staff-level agreement between the International Monetary Fund (IMF) and Pakistan has been reached, in accordance of which, the steps required for the sixth review of the economy were outlined.

“The Pakistani authorities and IMF staff have reached a staff-level agreement on policies and reforms needed to complete the sixth review under the EFF,” read the statement by IMF.

According to the statement, Pakistan has not met all the conditions required for approval by the Executive Board of IMF. To achieve the primary surplus, Pakistan will have to bring a mini-budget.

The government has increased the petroleum prices by Rs. 4 per litre, electricity by Rs. 1.68 per unit and interest rates by 1.5 per cent to achieve the IMF conditions. It is expected that the authorities will further hike the interest rates.

Because of the suspension, the two-year cumulative loan will amount to $3 billion, even if the IMF loan of $1 billion is approved. The amount decided in May 2019 was greater than what Pakistan has received.

Related

News Desk

News Desk

Related Posts

PCB to create history by naming enclosures of Bugti cricket stadium after former women's cricketers of Pakistan cricket team
Featured

PCB to create history by naming enclosures of Bugti cricket stadium after former women’s cricketers of Pakistan cricket team

January 26, 2023
PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points
Business

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

January 26, 2023
PATHAAN takes Bollywood by storm
Featured

PATHAAN takes Bollywood by storm

January 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

PCB to create history by naming enclosures of Bugti cricket stadium after former women's cricketers of Pakistan cricket team

PCB to create history by naming enclosures of Bugti cricket stadium after former women’s cricketers of Pakistan cricket team

by admin
January 26, 2023

Lahore: For the first time in the history of cricket any enclosure of a cricket stadium will be named after...

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

by Zain Aijaz
January 26, 2023

The devaluation of Pakistani currency (Rupee Devaluation) has created a positive sentiment in the market at the Pakistan Stock Exchange...

ICC names Babar Azam ODI player of the year for consecutive second year

ICC names Babar Azam ODI player of the year for consecutive second year

by Zain Aijaz
January 26, 2023

The captain of the national cricket team, Babar Azam, has been declared the ICC ODI Player of the Year for...

Pakistan seeks US help for revival of IMF programme

Pakistan seeks US help for revival of IMF programme

by Zain Aijaz
January 26, 2023

Islamabad: On Wednesday, Pakistan reached out to the delegation of the United States (US) in an attempt to seek their...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8

Copyright © 2022 The Upcut. All rights reserved.