IMF not making any profit from loans to Pakistan: IMF representative

News Image

MG News | July 19, 2019 at 04:27 PM GMT+05:00

0:00

July 19, 2019 (MLN): International Monetary Fund’s resident representative at Pakistan, Teresa Daban Sanchez has said that people have erroneous notions about the IMF.

During a seminar held in Islamabad, she said that IMF is not making any profit after giving loans to Pakistan.

Further defending the purpose of the fund, she said IMF helps members’ countries which are facing financial problems.

With respect to that state of Pakistan’s economy, she said that the biggest and foremost issue that the country is facing is of debt payments.

She further stated that Pakistan spends almost 25 percent from its total revenue

Nevertheless, she appreciated the fact that the current account deficit of the country has reduced.

While she pointed out that revenue collection in Pakistan has been less, she went on to suggest that the country should increase spending on under privilege class.

Deliberating upon volatility in exchange rate, she said that Pakistan’s exchange rate should be determined according to market forces.

Shedding some insight on FATF’s upcoming verdict, she said that Pakistan must comply with the rules laid out by FATF to move out of its grey list.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg