Pakistan on track for $7bn IMF loan approval by September: FM

News Image

MG News | August 21, 2024 at 03:48 PM GMT+05:00

0:00

August 21, 2024 (MLN): Pakistan is making good progress with the International Monetary Fund and hopes to get board approval in September for a new $7 billion loan program, Pakistan's Finance Minister Muhammad Aurangzeb said on Wednesday, as Reuters reported.

Pakistan and the IMF reached an agreement for the 37-month loan program in July.

The IMF said the new Extended Fund Facility program is subject to approval from its Executive Board and obtaining "timely confirmation of necessary financing assurances from Pakistan's development and bilateral partners".

"We are making good progress with IMF for Board approval in September," said Aurangzeb in a text message to Reuters.

Rollovers or disbursements on loans from Pakistan's long-time allies Saudi Arabia, the United Arab Emirates and China, in addition to financing from the IMF, have helped Pakistan meet its external financing needs in the past.

The IMF did not immediately respond to a Reuters request for comment on Pakistan's external financing needs and the executive board's meeting on Pakistan's loan program.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 163,806.22
500.44M
-0.39%
-638.50
ALLSHR 99,845.79
1,977.49M
-0.42%
-417.42
KSE30 50,123.85
153.24M
-0.68%
-343.31
KMI30 238,530.50
71.49M
-0.36%
-850.63
KMIALLSHR 65,898.10
543.80M
-0.37%
-245.35
BKTi 46,380.96
92.15M
-0.49%
-229.01
OGTi 31,857.40
12.33M
-1.20%
-387.93
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,220.00 109,470.00
103,745.00
-1225.00
-1.13%
BRENT CRUDE 61.34 61.47
60.14
0.28
0.46%
RICHARDS BAY COAL MONTHLY 80.50 0.00
0.00
-1.00
-1.23%
ROTTERDAM COAL MONTHLY 93.20 93.50
93.20
0.05
0.05%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 57.25 57.32
56.15
0.26
0.46%
SUGAR #11 WORLD 15.53 15.88
15.45
-0.27
-1.71%

Chart of the Day


Latest News
October 18, 2025 at 01:59 PM GMT+05:00

SBP Revokes License of Exchange Company


October 18, 2025 at 01:36 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


October 17, 2025 at 05:29 PM GMT+05:00

MLCF profit doubles in Q3FY25



Top 5 things to watch in this week

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