Tag: Imf

WASHINGTON - Unhealthy European banks are the biggest threat to global financial stability, and they need to find fresh capital, the International Monetary Fund said Wednesday.
"Many institutions - particularly weaker European banks - are caught in a maelstrom of interlinked pressures that are intensifying risks for the system as a whole," the IMF said in its Global Financial Stability Report.
"Remaining structural weaknesses and vulnerabilities in the euro area still pose

ISLAMABAD - The International Monetary Fund on Tuesday released a programme note on Pakistan, saying the real GDP growth was unlikely to exceed 2.8 percent during the current fiscal year due to adverse security developments which continue to hurt domestic and foreign investor's confidence, while electricity shortages continue to prevent the economy from achieving its potential. The IMF programme note said the fiscal policy had been affected by low economic activity and a difficult

ISLAMABAD - The government has decided to seek another bailout package from the International Monetary Fund (IMF), at least for the repayment duration of the suspended $11.3 billion programme, of which a repayment of $7.1 billon would begin from September next year.
An official source said Finance Minister Dr Abdul Hafeez Shaikh would inform the IMF about the intention during his visit to Washington between April 11 to 17 to attend the spring meetings of the World Bank and IMF.

ISLAMABAD - As the government is eyeing another IMF package, the economists have termed the move 'disastrous' for the economy and said without implementing economic reforms, taxing the rich, focusing on promoting growth by bringing downing the interest rates, no bail-out package could end the chronic economic problems.
An official source at the Finance Ministry said that the government had decided to inform IMF authorities during the forth coming visit of finance minister to

ISLAMABAD - Pakistan has decided to enter into another loan programme with the International Monetary Fund (IMF) and the formal intention would be made during the finance minister's visit to Washington on April 12. An official source at the Ministry of Finance said the government had decided to enter into another programme with the IMF after concluding the fifth review of the under suspension $11.3 billion Standby Arrangement (SBA) in June this year.
The source said the formal

ISLAMABAD - Another International Monetary Fund (IMF) mission is due in the next few weeks to review revenue measures, which the government promised would be taken to improve revenue collection and bridge the fiscal deficit, an official source said. A date has not been finalised yet, but they would be in the town by mid April, he said, adding that the revenue measures agreed with the fund would be implemented by that time.
The government plans to impose of 15 percent flood income

KARACHI - The government and the International Monetary Fund have agreed on a budget deficit of 5.3 percent of the gross domestic product (GDP) in the fiscal year 2010/11 (July-June), and are forecasting a growth of around 2.75 percent, sources said on Monday. This is more than a revised budget deficit of 4.7 percent of GDP made following the devastating 2010 floods that caused around $10 billion in damages. "We agreed to a target budget deficit at 5.3 percent of GDP, GDP growth

ISLAMABAD - The International Monetary Fund (IMF) on Friday presented a bleak picture of the economic situation in Pakistan and recommended a complete overhaul of the economy to put the country back on the path of recovery without disengaging itself to facilitate reforms.
Upon conclusion of its extended talks with Pakistan's economic managers, the IMF issued a statement of its assessment, cautiously appreciating the proposed plan of the government but at the same time candidly

ISLAMABAD - The International Monetary Fund (IMF) has sought a clear plan of action from the government by Friday (today) to end the circular debt issue and reform the bleeding public sector enterprises within the current financial year in order to revive the suspended standby arrangement facility. An official source said the success of the talks hinged on the action plan that the government presented to the fund staff on Thursday and would be finalised today. During the talks, IMF

ISLAMABAD - The International Monetary Fund (IMF) on Tuesday agreed to extend for another three days the ongoing talks for setting new benchmarks for Pakistan to revive the $11.3 billion standby arrangement facility that is suspended since May last year.
The government had invited the IMF mission for talks to revive the suspended programme by finalising new benchmarks. However, both sides, led by Finance Minister Abdul Hafeez Shaikh and IMF Mission Chief for Pakistan Adnan

WASHINGTON - Emerging market economies that powered the global recovery may be growing too fast for their own good as inflation pressures build, a top International Monetary Fund (IMF) official said on Monday.
China, Brazil and other fast-growing nations have struggled to contain inflation and control heavy inflows of investment money. Although the IMF has been warning for months of the risks of price pressure, the comments by the Fund's first deputy managing director, John

ISLAMABAD - The International Monetary Fund (IMF) has expressed reservations over the government's claims that the Federal Board of Revenue (FBR) would manage collecting the targeted Rs 1,604 billion during the current fiscal year. An official source privy to technical level talks said the IMF team formed the opinion after the revenue collection data for the last eight months was presented to it. The IMF team was of the opinion that the target was not achievable without the imposition

WASHINGTON - A top International Monetary Fund official expressed concern about overall inflation in emerging countries beyond the current spike in food and commodity prices. Naoyuki Shinohara, IMF deputy managing director, highlighted signs of a broadening upward pressure on prices in a speech to Asian central bankers in Colombo, Sri Lanka on Wednesday. "Prices for both oil and non-oil commodities rose considerably in 2010, partly in response to strong global demand, but also because

ISLAMABAD - Pakistan has sought benchmarks from the International Monetary Fund for the current month to remain eligible for the $11.3 billion standby arrangement (SBA) facility which is suspended since May last year.
An official source at the Finance Ministry said the technical-level talks with the IMF had started and Pakistan had asked the IMF to set performance benchmarks for March to put the suspended SBA facility on track.
IMF Mission Chief for Pakistan Adnan Mazarei

ISLAMABAD - The government and the International Monetary Fund (IMF) are set to hold talks on March 1 for the revival of the suspended $11.3 billion standby arrangement facility. An official source at the Ministry of Finance said the IMF team would be briefed on the current economic situation, progress on the talks with the political parties and steps taken to control the fiscal deficit.
He said the IMF team would remain in the country for the next week and would be reviewing

ISLAMABAD - The government and the International Monetary Fund (IMF) will hold talks for the release of at least one tranche of $1.7 billion during the current financial year on February 28. An official source said that the government was hopeful of obtaining one tranche during the current financial year, as despite difficulties improvements were made on the economic front.
The release of one tranche from IMF was crucial as it would help in getting the release of committed funds

ISLAMABAD - With the talks between the government and opposition parties on the economic reforms drawing near to conclusion, an International Monetary Fund (IMF) mission is expected to visit Pakistan within next two weeks, an official source said.
The visit is aimed at getting first hand knowledge about the results of the talks between the government and the opposition.
The government would brief them about the consensus on the major economic challenges and the strategy to