ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Asia

Pakistan in talks with IMF for 24th 'longer and larger' bailout programme

The International Monetary Fund (IMF) confirmed that the talks with Pakistan are underway on the 24th 'longer and larger' bailout programme under the Extended Fund Facility (EFF), reported ARY News.

ANI May 18, 2024 09:41 IST googleads

Representative Image

Islamabad [Pakistan], May 18 (ANI): The International Monetary Fund (IMF) confirmed that the talks with Pakistan are underway on the 24th 'longer and larger' bailout programme under the Extended Fund Facility (EFF), reported ARY News.
While addressing a press briefing, IMF Communication Director Julie Kozack, avoided answering about the staff-level agreement, indicating that the negotiations are still ongoing.
"Right now, a mission team led by Nathan Porter is meeting with Pakistan authorities this week to discuss the next phase of our engagement," Kozack said.
She noted that on April 29, the IMF Executive Board completed the second review of the stand-by arrangement for Pakistan, allowing a disbursement of about USD 1.1 billion, ARY News reported.
"The completion by our Board of the second and final review of the stand-by arrangement reflected the authority's strong policy efforts during the time of the standby, which did help stabilisation of the economy," Kozack said.
She further emphasised that there is a missing ongoing, and will communicate the findings of the mission in time.
"There is a mission on the ground, we will wait for them to complete their work and we will communicate the findings of the mission in due course," she said.
Pakistan is seeking a USD 6 billion to USD 8 billion bailout package from the global lender for three to four years, to deal with its financial crisis, as reported by ARY News.
On May 10, the IMF's technical experts' team arrived in Pakistan for talks on a fresh loan programme and budget preparations.
Pakistan has been dealing with significant economic challenges ahead of the new talks, including a failed tax amnesty scheme proposed by the IMF.
Earlier this week, the international lender urged the Federal Board of Revenue (FBR) to revoke the discretionary powers held by the Board and the cabinet in granting tax incentives. Additionally, it calls for amendments in tax laws pertaining to NGOs, charitable organisations, and taxed pensioners, Geo News reported.
Furthermore, the IMF highlights the adverse effects of special tax regimes in the construction sector, advocating for their removal to enhance tax efficiency. (ANI)

Get the App

What to Read Next

Europe

Blasphemy laws in Pakistan target religious minorities: GHRD

Blasphemy laws in Pakistan target religious minorities: GHRD

At the 61st session of the United Nations Human Rights Council, the organisation Global Human Rights Defence (GHRD) raised concerns over the continued misuse of blasphemy laws in Pakistan and their impact on religious minorities.

Read More
Europe

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

At the 61st session of the United Nations Human Rights Council (UNHRC), Yasser Laaroussi, from the ECO FAWN Society, during General Debate under Item 3, in his oral statement, highlighted the terrorist attack that took place in Pahalgam on April 22, 2025. He urged the international community to intensify efforts to combat terrorism and ensure accountability for attacks targeting civilians

Read More
US

Brazil’s Silveira rules out fuel shortages, slams speculation

Brazil’s Silveira rules out fuel shortages, slams speculation

Speaking to journalists, Silveira said the country's fuel supply remains stable and the government is closely monitoring developments in the international oil market as well as domestic price movements.

Read More
Asia

MEA rejects Pakistan’s statement on India-Canada deal

MEA rejects Pakistan’s statement on India-Canada deal

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

Read More
Asia

India rejects Pakistan's "baseless allegations"

India rejects Pakistan's

India on Thursday rejected Pakistan's allegations of aggravating skirmishes with Afghanistan, calling them "baseless" and accusing Pakistan of blaming others for its own misdeeds.

Read More
Asia

Policy delays leave Pakistan short of critical medicines

Policy delays leave Pakistan short of critical medicines

Pakistan faces a severe shortage of life-saving medicines, including cancer drugs and vaccines, due to government delays in notifying official prices. While global supply remains stable, regulatory hurdles have stalled legal imports, raising concerns over patient survival and the potential rise of unregulated, counterfeit medicines.

Read More
Europe

"Act of terrorism": Russia slams Mediterranean drone attack

Russian Foreign Ministry Spokesperson Maria Zakharova condemned a drone strike on the commercial vessel Arctic Metagaz in the Mediterranean. Calling it "a terrorist attack & a war crime," she detailed the crew's rescue after a gas explosion, criticised Malta's refusal to assist the injured, and denounced the European silence.

Read More
Asia

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan's fruit and vegetable supply remains dominated by traditional middlemen and the "mandi" system, with digital platforms handling only 2-3% of trade. Restrictive provincial laws and lack of infrastructure force farmers into dependency on commission agents, stalling modern technological transformation in the agricultural sector.

Read More
Asia

Hardships grow as Pakistan tightens its grip in Balochistan 

Hardships grow as Pakistan tightens its grip in Balochistan 

Residents in Balochistan's Zehri and Surab regions are facing a severe humanitarian crisis due to a four-day curfew and military operations. The Baloch Yakjehti Committee reported acute food shortages, blocked healthcare access, and alleged house raids by security forces, urging international bodies to investigate these fundamental rights violations.

Read More
Middle East

Iran warns of attack on ports in West Asia

Iran warns of attack on ports in West Asia

IRIB Quoted the official as saying, "If any attack is carried out against Iran's economic ports, all docks, ports, and economic zones across West Asia will be destroyed."

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.