Pakistan has taken 21 loans from the IMF

The bailout package will likely be signed at the end of the fiscal year or early next financial year, say sources in the finance ministry

Trader ability to import in bulk disturbed as duties rose

An IMF delegation arrived in Islamabad on Wed

Moody’s says challenges will remain in the form of too many imports and borrowing related to CPEC projects

Pakistan will be approaching the IMF for a bail out

News is floating around that the incoming new PTI government will, in the next few weeks, take loans from the IMF to shore up the weakening Pakistan economy. The number being thrown around is $12 billion to $15 billion. Question: Will the new Pakistani government be able to fulfill its promise to make Pakistan an…

PTI leader and likely candidate for the post of finance minister in the upcoming government Asad Umar has said that the US should worry about its own Chinese debt and let us worry about our own. US Secretary of State Mike Pompeo had warned that any potential IMF bailout for Pakistan should not provide funds…

The Pakistan Tehreek-e-Insaf is in a strong position to form the government after winning a majority in the general elections earlier this week. But with power, they say comes responsibility. The change of government is taking place at a time when the country is facing challenges, especially on the economic front and the responsibility of…

Pakistan will turn to the International Monetary Fund (IMF) to meet its external financing needs, Moody’s Investors Service said in a note on Friday. With the election results almost complete, the PTI looks set to form a majority government with the help of independents and smaller parties, putting fears of a hung parliament or weak…

ATHENS: German lawmakers gave their go-ahead on Friday for the euro zone to negotiate a third bailout for Greece, but a warning from Chancellor Angela Merkel that the alternative was chaos failed to prevent a hefty rebellion in her own party. The Bundestag, the lower house of parliament, whose backing was essential for the talks…

ATHENS, Greece: Greece on Wednesday geared up for a crucial parliamentary vote on draconian reforms demanded by eurozone creditors in exchange for a huge new bailout, in what could be Prime Minister Alexis Tsipras's toughest political test yet. The embattled premier said he took “full responsibility” for signing an accord he did “not believe in,…

ATHENS: Greek Prime Minister Alexis Tsipras won backing from lawmakers on Saturday for painful reform proposals aimed at obtaining a new international bailout, but he faced a rebellion in his own party that could threaten his majority in parliament. The measures, which received an initial green light from the European Union and International Monetary Fund…

BRUSSELS: Greek Prime Minister Alexis Tsipras made a fresh reform proposal to eurozone ministers on Wednesday after Greece became the first advanced economy to default on an IMF payment. Eurozone ministers were to consider the latest gambit by the leftist premier in a conference call later Wednesday even as debt-stricken Greece's creditors poured cold water…

ATHENS: The head of the European Commission made a last-minute offer to try to persuade Greek Prime Minister Alexis Tsipras to accept a bailout deal he has rejected before a referendum on Sunday which EU partners say will be a choice of whether to stay in the euro. But Greek government sources said the leftist…

Staff ReportISLAMABAD: The Economic Coordination Committee (ECC) has approved 2.9 billion rupees’ bailout package for financial troubled Pakistan Steel Mills, SAMAA reports.An eight hour-long meeting of the ECC meeting was held under Finance Minister Ishaq Dar in Islamabad on Saturday to mull over different key financial issues.The meeting approved a bailout package of 2.9 billion…

Staff ReportISLAMABAD: Pakistan government has agreed to reduce subsidy and increase electricity tariffs in return for $5.3 billion bailout package from the International Monetary Fund, SAMAA reports.According to a spokesman of the Finance Ministry, during talks with the IMF representatives the government has agreed to gradually eliminate power subsidy and increase tariffs.Finance Minister Ishaq Dar…

Staff ReportISLAMABAD: A high-level team of the country’s economic managers will leave for Washington on April 18 to hold talks with the IMF and the World Bank to seek a critical bailout package for the country’s ailing economy, SAMAA reports.The delegation which will include governor State Bank of Pakistan, chairman Federal Board of Revenue and…

LONDON: European shares and the euro inched higher on Tuesday, although gains were limited by fears that Cyprus's raid on bank deposits could become the template for future euro zone bailouts.Banks in Cyprus remain closed following the country's 10 billion euro bailout agreed at the weekend, but comments from Jeroen Dijsselbloem, the new head of…

TOKYO: Asian shares edged lower and the euro wobbled on Tuesday as investors worried about potential future fallout from the Cyprus bailout scheme, after initial rallies on the last-minute rescue opened the way to book some profit.European markets were seen rebounding, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX likely to…

BRUSSELS/NICOSIA: Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout.The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos…