21 C
Islamabad
Sunday, September 27, 2020

IMF Considers Pakistan’s Request For Additional Funds

Must Read

Africa To Get $57 Billion From Official Creditors In 2020

WASHINGTON - Africa To Get $57 Billion From Official Creditors In 2020. The International Monetary Fund and World Bank,...

PM Khan Welcomes Global Debt Relief Efforts By G20

ISLAMABAD - PM Khan Welcomes Global Debt Relief Efforts By G20. Prime Minister Imran Khan, on Thursday, appreciated the...

Pakistani Steel Manufacturers To Operate in North America

ISLAMABAD - Pakistani Steel Manufacturers To Operate in North America. The State Bank of Pakistan SBP, on Friday, has...

WASHINGTON DC – IMF Considers Pakistan’s Request For Additional Funds. The International Monetary Fund (IMF) will consider Pakistan’s request for a $1.4 billion loan under Rapid Financing Instrument (RFI).

According to details, IMF’s executive board will meet today to consider Pakistan’s request. The RFI has will deal with the economic turmoil in the wake of coronavirus. Government of Pakistan requested this loan last month. Meanwhile, this $1.4bn loan will be in addition to the Pakistan’s $6bn bailout package signed last year.

Finance advisor Hafeez Sheikh said this loan will be a low-cost, fast distributing loan. He said Pakistan would like the IMF to consider the loan separately. To funds it had already set aside for losses to economies across the world due to the pandemic.

Meanwhile, Foreign Minister Shah Mahmood Qureshi has informed that Pakistan is expected to get major debt relief from the IMF in wake of economic turmoil generated due to coronavirus pandemic. Qureshi informed this relief will be for one year and will be applicable from the 1st of May.

IMF Considers Pakistan’s Request For Additional Funds.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Africa To Get $57 Billion From Official Creditors In 2020

WASHINGTON - Africa To Get $57 Billion From Official Creditors In 2020. The International Monetary Fund and World Bank,...

PM Khan Welcomes Global Debt Relief Efforts By G20

ISLAMABAD - PM Khan Welcomes Global Debt Relief Efforts By G20. Prime Minister Imran Khan, on Thursday, appreciated the debt relief measures taken by...

Pakistani Steel Manufacturers To Operate in North America

ISLAMABAD - Pakistani Steel Manufacturers To Operate in North America. The State Bank of Pakistan SBP, on Friday, has allowed International Industries Limited (ILL)...

UN Warns Thousands Of Child Deaths Due To Economic Downturn

NEW YORK - UN Warns Thousands Of Child Deaths Due To Economic Downturn. The United Nations, on Thursday, warned that hundreds of thousands of...

Apple Launches New iPhone For Low-Budget Users

SAN FRANCISCO - Apple Launches New iPhone For Low-Budget Users. The tech giant Apple, on Wednesday, unveiled a new entry-level iPhone. It aims to appeal...
- Advertisement -

More Articles Like This

- Advertisement -