Pakistan Finance Minister Ishaq Dar to visit Washington; set to hold talks for bailout with IMF
The Hindu
Pakistan’s Finance Minister Ishaq Dar will be leading a high-powered delegation to the U.S. to attend the annual spring meeting of the International Monetary Fund (IMF) and the World Bank and for talks with the officials which can help the cash-strapped country to ink a much-needed $1.1 billion bailout with the IMF.
Pakistan's Finance Minister Ishaq Dar will be leading a high-powered delegation to the U.S. to attend the annual spring meeting of the International Monetary Fund (IMF) and the World Bank and for talks with the officials which can help the cash-strapped country to ink a much-needed $1.1 billion bailout with the IMF.
Mr. Dar along with an official delegation comprising the Finance and Economic Affairs Division secretaries and the State Bank of Pakistan (SBP) governor, might present fresh proposals before the IMF and World Bank for providing dollar inflows, Geo news portal reported.
“The delegation will be attending the upcoming Annual Spring Meeting of the Breton Wood Institutions (BWIs), known as the International Monetary Fund (IMF) and World Bank, from April 10 to 16,” the report added.
During the meetings, Pakistan and the IMF would also discuss the possibility of combining the remaining 10th and 11th reviews under the $6.5 billion Extended Fund Facility (EFF) programme in case the pending 9th review is completed.
Cash-strapped Pakistan is awaiting a much-needed $1.1 billion tranche of funding from the Washington-based IMF, which was originally due to be disbursed in November last year.
The funds are part of a $6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations.
The IMF programme, signed in 2019, is going to expire on June 30, 2023, and under the set guidelines, the programme cannot be extended beyond the deadline.
Minnesota sues the Trump administration over immigration enforcement, claiming violations of free speech and escalating public safety concerns.
Trump claims Iran seeks negotiations amidst rising protest death toll, as tensions escalate over potential U.S. interventions.
Trump expresses optimism about collaboration with Venezuela's interim leader and openness to future meetings amidst political changes.
Barham Salih, a former Iraqi president, becomes the first head of state to lead the UNHCR amid rising refugee needs.
South Korea's President Lee to meet Japan's Takaichi, focusing on regional ties amid rising China-Japan tensions.
Venezuela's government has released 116 political prisoners following a recent announcement by President Nicolás Maduro's administration.
Pope Leo meets Venezuelan leader Maria Corina Machado at the Vatican, discussing Venezuela's independence and human rights issues.
A WEF survey reveals global youth prioritize inequality as a top economic concern, with many aspiring for political leadership.
Trump intensifies pressure on Fed Chair Powell, threatening indictment over comments, raising concerns about the Fed's independence and monetary policy.
Iran's shutdown of the internet, which activists fear masks a crackdown they say has killed hundreds, has now lasted more than three-and-a-half days, a monitor said Monday.
Trump asserts the U.S. will acquire Greenland for national security, citing threats from Russia and China in the Arctic.
U.S. sends additional federal agents to Minneapolis despite stir over woman’s killing amid protests over the fatal shooting of a woman by an immigration officer.
Myanmar's pro-military party claims victory in Aung San Suu Kyi's seat amid controversial junta-run elections.