ANI
06 Aug 2022, 00:18 GMT+10
Islamabad [Pakistan], August 5 (ANI): Chief of Pakistan Army, General Qamar Javed Bajwa, held a conversation with the authorities of the United Arab Emirates and Saudi Arabia and discussed disbursement under the International Monetary Fund (IMF) loan programme.
According to reports, Bajwa had also appealed to the US to help Islamabad secure an early dispersal of USD 1.2 billion in funds under the IMF programme to avert the risk of debt default.
The army chief reached out to the US Deputy Secretary of State Wendy Sherman on a phone call, Geo News reported citing Nikkei Asia.
Pakistan and the IMF reached a staff-level agreement over the release of the funds to support the country's fragile economy. The staff-level agreement will pave the way for the USD 1.2 billion disbursements, which are expected this month after the board approves it.
In the recent development, IMF and Pakistan have reached a staff-level agreement on the combined seventh and eighth reviews for a USD 6 billion Extended Fund Facility (EFF) loan facility.
Pakistan hoped that this agreement would stabilize the country's economy and depreciate its currency. IMF also hoped that it would bring down high inflation and end Pakistan's political instability, reported Geo News.
Earlier, Pakistan decided to impose additional taxes totalling Pakistani Rs (PKR) 30 billion as it struggles to arrange PRK 100 billion in emergency funds to prevent an international default on oil and gas payments and sustain its staff-level agreement with the International Monetary Fund (IMF), according to the local media reports.
The decision was taken at a special meeting of the Economic Coordination Committee (ECC) of the cabinet presided over by Finance Minister Miftah Ismail on Sunday. (ANI)
Get a daily dose of Perth Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Perth Herald.
More InformationBANGKOK, Thailand: Instant noodle makers have asked Thailand to allow them to increase their prices to meet rising costs, which ...
JEDDAH, Saudi Arabia: In a Twitter post published this week, Saudi Arabia's Kingdom Holding said it had invested in Russian ...
DELHI, India: Dubbed the country's Warren Buffett, India's best-known stock investor and self-made billionaire, Rakesh Jhunjhunwala, died on August 14 ...
SAO PAULO, Brazil: Brazil's central bank chief Roberto Campos Neto has said that he believes credit cards will cease to ...
LONDON, England: Despite a recent rebound, speculators in the international copper market, considered an indicator of the world's economic health, ...
MOSCOW, Russia: Financial information released by the Rosstat federal statistics service this week indicated that Russia's economy shrank 4 percent ...
NAYPYIDAW, Myanmar - Sean Turnell, an Australian academic and economic adviser to Myanmar's deposed leader Aung San Suu Kyi, detained ...
It's not breaking news that Scott Morrison has trouble with women. His "woman problem" was one factor in his election ...
Mumbai (Maharashtra) [India], August 18 (ANI): Soon after a mysterious boat loaded with weapons was recovered near the Harihareshwar beach, ...
In the opening address of this year's Global Anglican Futures Conference (GAFCON) Australasia, Bishop Richard Condie announced the creation of ...
Alongside much else that is being revised, reimagined or recast by the Albanese government, Australia is to have a new ...
Could Australia soon have a form of emissions trading? Yes, if Labor's much-anticipated paper on fixing Australia's mediocre emissions-reduction framework, ...