Bonds Plunge, Moody’s Sees External Position under Stress
Karachi: Sovereign bonds plunged on Friday after Pakistan’s bailout talks with the IMF ended without a deal. The country’s bond which was due to be paid off as soon as possible, in April 2024, fell 4.6 cents on the dollar or about nine percent. Other bonds with longer repayment dates fell between two and three […]
Imran Khan Confident of Winning Elections and Back IMF Role in Pakistan
Pakistan’s ousted Prime Minister Imran Khan said he was confident of returning to power this year and would back a continued role for the International Monetary Fund to shore up the economy and avert a growing risk of a debt default. The former cricket star, who was removed from office in a confidence vote last […]
Pakistan Set to Pay $1 Billion Bonds as Default Risk Persists
Pakistan will pay a $1 billion bond on Friday, dodging the risk of a short-term default, even as concerns persist about its ability to repay its long-term debt. The government plans to make payment on Sukuk dollar bonds due Dec. 5, three days before maturity, State Bank of Pakistan Governor Jameel Ahmad said at a […]
IMF Forecasts $1 Trillion Windfall For Oil Exporters, Higher Savings in Gulf
The International Monetary Fund expects energy exporters in the Middle East and Central Asia to make a cumulative windfall of around $1 trillion during 2022-2026, a bonanza that will contribute greatly to the Gulf Arab economies because they will save much more of their oil revenues. The influx of petrodollars would be higher than projected […]
Sri Lanka Deal with IMF for $2.9 Billion Loan
Sri Lanka has reached a staff-level agreement with the International Monetary Fund for a $2.9 billion loan. It would be a key step for the crisis-hit country to unlock more funds and restructure its debt. The Fund’s Extended Facility agreement will support Sri Lanka’s programs to restore macroeconomic stability and debt sustainability. The IMF added […]
IMF Expects the US Economy to Experience High Inflation for at Least Another Year or Two
The International Monetary Fund (IMF) expects the U.S. economy to experience high inflation. It would be for at least another year or two. “I would be careful when looking at a data point for the United States,” warned the IMF’s first deputy managing director, Gita Gopinath. IMF on the US Economy and Global Inflation The […]
IMF Seeks Guarantees on Saudi Financing to Pakistan
The International Monetary Fund is seeking to assess Saudi Arabia’s commitment to funding Pakistan, before the multilateral lender disburses fresh funds to the South Asian nation, according to people familiar with the matter. The Washington-based lender wants to make sure Saudi Arabia goes ahead with up to $4 billion in funding to Pakistan to ensure […]
$1.17 billion tranche to be released in three to six weeks: IMF
The International Monetary Fund (IMF) has said its deal with Pakistan would lead to an “immediate” disbursement of $1.17 billion to the country. “It’s an agreement on a combined seventh and eighth review of the program. This will result in the disbursement of some $1.17 million to Pakistan. Pretty much, right away,” IMF Communications Director […]
IMF says Sri Lanka deal moves forward and needs guarantees from creditors
IMF says Sri Lanka deal moves forward and needs guarantees from creditors. The International Monetary Fund says, “Significant progress” has been made toward an aid program for Sri Lanka. It requires restoring debt sustainability and financing guarantees from the country’s creditors. It also requires “far-reaching” fiscal reforms. “Monetary, fiscal and other actions by the authorities […]
IMF warns of risks of slowing Covid vaccination rates in China
The International Monetary Fund (IMF) called on China. The call is to speed up its coronavirus vaccination program. IMF gives a warning that the sharp slowdown in the pace of new doses administered. As a result, this administration could undermine the recovery in consumer spending in the economy. At the current rate, providing three doses […]