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| India-Pakistan |
| IMF ready to 'engage' with Pakistan on fresh bailout |
| 2024-04-06 |
| [GEO.TV] s the government looks for another bailout programme from the International Monetary Fund (IMF), the global lender has stated that it is ready to “engage” with Pakistan in the “coming months” to help the country resolve “fiscal and external stability challenges”. “The authorities have expressed interest in a successor IMF supported programme with the aim of resolving Pakistan's fiscal and external stability challenges and laying the foundation for inclusive growth. And, of course, we stand ready to engage in programme discussions in the coming months,” said IMF’s Communications Director Julie Kozack in a press briefing on Tuesday. Kozack spoke about the fresh bailout programme in response to a question asked about the Standby Arrangement (SBA) and whether Pakistan was out of the woods economically. The IMF communications director shared that the Executive Board meeting of the lender will take place at the end of this month to approve the disbursement of the remaining $1.1 billion of the SBA following the staff level agreement between Pakistan and IMF. “The staff level agreement recognises the strong programme implementation by the State Bank of Pakistan and the caretaker government in recent months, as well as the new government's intentions for ongoing policy and reform efforts to move Pakistan from stabilisation to a strong and sustainable recovery,” said Kozack. The IMF official noted that there was an improvement in Pakistan’s “economic and financial” situation since the completion of the first review of the SBA. “Growth and confidence are continuing to recover,” said Kozack. She added that the IMF will release growth forecasts in the coming months as part of the World Economic Outlook. Deprecated: pg_query(): Automatic fetching of PostgreSQL connection is deprecated in /var/www/html/rantburg/ajax/ngogovt.php on line 26 Related: International Monetary Fund: 2024-03-31 IMF confirms more than doubling Egypt's bailout loan to $8 billion International Monetary Fund: 2024-03-31 World Bank assumed the bankruptcy of Ukraine in 2025 International Monetary Fund: 2024-03-26 Sheer power struggle within PTI may lead to its disintegration: info minister Deprecated: pg_query(): Automatic fetching of PostgreSQL connection is deprecated in /var/www/html/rantburg/ajax/ngogovt.php on line 39 |
| Posted by:Fred |
| #2 I mean, look how much "stability" previous tranches have bought. |
| Posted by: M. Murcek 2024-04-06 09:52 |
| #1 This is the definition of "throwing good money after bad money". |
| Posted by: ed in texas 2024-04-06 09:46 |