PC party leader attends the protest in support of fishermen | SaltWire #newsupdate #newfoundlandISLAMABAD - Pakistan will discuss an Extended Fund Facility with the International Monetary Fund in Washington next month, Finance Minister Muhammad Aurangzeb said on Friday, as the country looks to alleviate a full-scale economic crisis.
Cash-strapped Pakistan's standby $3 billion arrangement with the global lender expires on April 11, and the two sides reached a staff-level agreement regarding the disbursal of the final tranche of $1.1 billion earlier this week."We have expressed our strong interests in an Extended Fund Facility with the IMF, but the quantum is not clear yet," Aurangzeb said at a media briefing, adding that the lender was"very receptive" to the request.
The global lender's rescue package last summer had helped Pakistan avert a sovereign default but, to secure it, the country had to revise its budget, and raise interest rates, taxes, and electricity and gas prices. As a result, during the period, the country struggled through inflation as high as 38%, historic depreciation in its currency, and contraction of the economy.ADVERTISEMENT
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
La source: SaltWire Network - 🏆 45. / 63 Lire la suite »