Page 9 - Imf

The stunning resilience of emerging markets

Prudent economic policies and central bank independence have allowed them to defy analysts' expectations of a debt spiral

Pakistan informs IMF its debt serving costs may go up to PKR 8.5 trn

A substantial portion of this debt cost is attributed to domestic debt servicing, while external debt servicing exceeds PKR 900 billion

India abstained from Pakistan's loan request to IMF: Finance ministry

The arrangement provides short-term financial assistance to countries facing balance of payments problems

Pakistan stocks rise to highest in 6 yrs on election optimism, IMF visit

The benchmark stock index struck a record intra-day high of 53,263.07 on Friday, rising 1.15% from Thursday close, before settling back slightly. It was the highest since May 25, 2017

Pakistan, IMF commence negotiations for second tranche of $3 bn loan

Cash-strapped Pakistan and the IMF have kicked off the much-awaited loan review talks for the release of the USD 710 million second tranche of a USD 3 billion bailout package on a generally positive note. Caretaker Finance Minister Dr Shamshad Akhtar and the International Monetary Fund's (IMF) mission chief for Pakistan, Nathan Porter, led their sides to the opening round of two-week-long negotiations to discuss the next tranche based on Pakistan's performance in the first quarter that started in July. Porter "appreciated the government's commitment" to meeting the first-quarter targets, the Ministry of Finance said in a statement after the meeting, which has set the stage for a deep dive into forward-looking reforms under a nine-month bailout package, slated to be completed in March next year. He also "commended the government's efforts and measures taken in some critical areas" and underscored the importance of continuing these efforts to stay on track for ensuring the country's .

In Pakistan, steep natural gas price hike ahead of review by IMF

An IMF team is scheduled to arrive this week to review benchmarks set for the $3 billion stand-by arrangement it agreed in July

India in 2047

Policy adjustments can enable higher growth

Pak central bank keeps key rate unchanged at 22% ahead of IMF's visit

Inflation rose sharply to 31.4% in September on the back of a record fuel price hike, but the government has since slashed prices at the pump

Prolonged Israel-Hamas war means higher interest rates for longer: IMF

Inflation is still high and that requires interest rates to remain high, throwing more cold water on growth, said IMF

Best of BS Opinion: An update on global capital, supply-side dilemma & more

Here is the best of Business Standard's opinion pieces for today

India's fiscal position 'solid' amid global headwinds: Finance ministry

'West Asia situation, oil prices new challenges'

A difficult choice

Postponing IMF reforms in strategic interest

Will use 2nd IMF tranche to settle outstanding credit: Sri Lanka minister

Sri Lanka would utilise the IMF's second tranche of the bailout deal to settle arrears owed to multilateral creditors while expediting the debt restructuring process, state minister of finance Shehan Semasinghe has said. Sri Lanka is now in a position to receive the second tranche of USD 330 million upon approval of the Staff-Level Agreement by the IMF Executive Board. The Staff-Level Agreement will enable the World Bank, Asian Development Bank, and other multilateral financial institutions to make the remaining payments, further expediting debt restructuring efforts with international partners, Semasinghe said in a statement on Friday. The IMF had, in March this year, approved a 48-month, USD 2.9 billion extended arrangement under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms. It said, despite showing early signs of stabilisation, the full economic recovery was not yet assured. Sri Lanka's external position had weakened as a result of the .

RBI Governor Shaktikanta Das sticks to stand on crypto assets ban

G20 recently adopted road map on such assets

IMF proposes Pakistan to adopt austerity in new development projects

The IMF suggested that Pakistan's caretaker government should allocate funds for ongoing projects, especially those near completion, instead of starting new ones, as per ARY News

World's higher-for-longer rate era stokes worry among finance officials

Debt levels are at record high levels at the same time that we're in this higher-for-longer interest-rate environment, said Gita Gopinath, No 2 official at IMF

FM Sitharaman pitches for strong, quota-based and adequately resourced IMF

Finance Minister Nirmala Sitharaman on Saturday made a case for a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net and climate action. The 16th General Review of Quotas (GRQ) is expected to provide greater say to developing economies in the International Monetary Fund (IMF). As per an IMF resolution, the 16th GRQ should be concluded by December 15, 2023. Any adjustment in quota shares would be expected to result in an increase in voting rights of emerging countries in line with their relative positions in the world economy. Participating in a breakfast meeting of the IMF Board of Governors on the theme of 'Dialogue on Policy Challenges' in Marrakesh, Morocco, Sitharaman expressed concerns with regard to slowdown in global growth. However, she said, India continues to be the fastest growing large economy with a growth of 7.8 per cent during the first quarter of 2023-24. With regard to escalating global debt vulnerabilities, she ...

Pakistan's railway upgradation project under CPEC subject to IMF approval

One of Pakistan's key railway modernisation projects planned to be built under the China-Pakistan Economic Corridor (CPEC) is in trouble due to the IMF's conditions regarding sovereign guarantees, according to a media report on Saturday. The Main Line-1 (ML-1) aimed to modernise over 1,726 kilometres of colonial-era rail line stretching from Karachi to Peshawar remains subject to IMF approval and the finance ministry's ability to provide sovereign guarantees for a USD 6.67 billion loan from China, even though the project's budget has been cut by 32 per cent, reported the Dawn newspaper. The CPEC is a collection of infrastructure and other projects under construction throughout Pakistan since 2013. Pakistan had secured a last-gasp USD 3 billion bailout from the International Monetary Fund (IMF) on June 30, which later disbursed an initial upfront instalment of about USD 1.2 billion. The debt-trapped nation had given the IMF assurances of USD 8 billion for external payments. A senio

G20 finance ministers and central bank governors adopt crypto road map

Briefing reporters in Marrakesh, Finance Minister Nirmala Sitharaman said the roadmap on crypto assets is the big step forward that came from the FMCBG discussion

India needs structural reforms to achieve higher growth levels: IMF

In response to another question on the impact of a sharp increase in bond yields on emerging markets, Srinivasan said that both the public and private sectors should be careful while borrowing