require a prudent debt policy and continued efforts to prioritize 0000008860 00000 n Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website. Pakistan Staves Off Default, Reaches Much-Awaited Deal With IMF for $3 Billion Loan Program. Augustine Mayabi, Deputy Director, Ministry of ICT Innovation and Youth Affairs, and the National Project Coordinator for the KYEOP. The initial disbursement is contingent upon the boards approval as the country continues to grapple with a severe balance of payments crisis and declining foreign exchange reserves. Over 1,500 people were killed last year during floods in Pakistan that destroyed millions of homes, wiped out swathes of farmland, and caused billions of dollars in economic losses. Pakistans economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet. implementation of measures to improve domestic revenue mobilization, hb```b``e`a`0fd@ AV68F "tDtv39=A*&YGyY +jeuXd 3Minutes of the Thirteenth Meeting of the Executive Board, May 29, 1946, Item 3.4"Rules of Procedure for Meetings of Executive directors," adopted at the fifth meeting of the IMF Executive Board, May 13, 1946. 0000018837 00000 n You can also read the documentation to learn about Wordfence's blocking tools, or visit wordfence.com to learn more about Wordfence. fGMJx|1v`j4PDc%|\IXntirl;A89Eo<9~$V/!_zh PA1CM$~ Y- WU@(1p^P r3d Read more on investing.com. Earlier during the day, the index was seen unable to sustain the level over 44,000, and retreated to around the 43,900-point mark. What has it returned over the long term? climate change as well as help leverage additional financing. 2023 Business Recorder. The Financial Sector Assessment Program (FSAP) is a joint program of the International Monetary Fund and the World Bank. Annual Meetings Home; Registration; Guide for Participants; OED/Staff Information Page; Host Country. You can also read the documentation to learn about Wordfence's blocking tools, or visit wordfence.com to learn more about Wordfence. Full Board. The outlook remains This July 4, these top "American-made" ETFs look positioned to stand out from the rank and file in 2023. March 20, 2023 All eyes will be on Washington today as the Executive Board of the International Monetary Fund (IMF) meets to decide on the Extended Fund Facility (EFF) arrangement for Sri Lanka. 0000001344 00000 n LONDON (Reuters) -The International Monetary Fund's board of executive directors met on Friday to discuss the $44 billion Argentine programme for the first time since Silvina Batakis' appointment as economy minister, two people with direct knowledge of the meeting said. favorable, with the start of crude oil exports through the new pipeline to Overseas bond prices fell amid raising concerns that the new government would seek to change the terms of the IMF deal. The world of cheap stocks is a minefield. Meanwhile, Pakistan expected inflows from friendly Arab countries over the next couple of days to close the fiscal year with a higher foreign exchange reserve position. The IMF executive board, which is responsible for daily operations, is chaired by the IMF's managing director and consists of 24 executive directors (EDs) representing member countries through constituencies. stronger and more inclusive growth. In temporary relief for its economy on the brink of collapse, Pakistan has clinched initial approval from the International Monetary Fund for a $3 billion loan program, lowering the risk of a sovereign default. Downing Street refuses to say if PM will attend debate on report rebuking Johnson allies Number 10 has declined to say whether Rishi Sunak will attend the Commons debate on a report that rebuked . The IMF Executive Board concluded today the third review under the Extended Credit Facility Arrangement for Niger, allowing for an immediate disbursement of about US$ 26.3 million. 95 0 obj <>stream few years, including the COVID-19 pandemic, the worsening security July 18, 2022. Tired of stagnant pay, high healthcare costs, scant sick time and uncertain scheduling, American union workers are seeking higher wages, better work-life balance and job upgrades as the pandemic made many of them rethink their priorities. @jalees, Well, Thulu mairandi is a citizen of an occupied nation India. These are some of the best on offer. Board Document InquiriesEDBoardSupport@imf.org. Wall Street keeps modest losses after Fed minutes July 5, 2023. Staff also informed the Board that they were keeping a close watch on market conditions, as some of Argentina's dollar bonds were now trading in very distressed territory under 20 cents on the dollar, said one of the people. The nine-month Stand-by Arrangement (SBA), if approved, will bring USD 3 billion, or 111 per cent of Pakistans IMF quota which will ease the countrys financial crisis. million at the time of the ECF approval or 150 percent of quota) was (about US$131.5 million or 75 percent of quota). Sergio Chodos, who will continue to be Argentina's representative at the IMF, was also present. Annual Meetings 2023. informed fiscal planning and management, and promote the use of renewable Your access to this service has been limited. The staff-level agreement is subject to approval by the IMF Executive Board, with its consideration expected by mid-July, the . Access from your area has been temporarily limited for security reasons. Pakistan clinched the IMFs staff-level approval last week. 177 of the Executive Board, June 10, 1947. Bolstered by developments on the International Monetary Fund (IMF) front, the Pakistan Stock Exchange (PSX) witnessed another bullish run on Thursday as the benchmark KSE-100 Index closed well over the 44,000 level widely seen as a resistance point earlier in the week. Loaded 0%. Niger: Selected Economic Indicators Table, 2020-24, External current account balance (incl. The previous Extended Fund Facility expired on June 30, with the 9th, 10th, and 11th reviews pending. Audit Committee. 0000003363 00000 n Legislative Committee ^. (Reporting by Jorgelina do Rosario; writing by Rodrigo Campos;Editing by Tomasz Janowski and David Gregorio). KARACHI, Pakistan (Reuters) - The International Monetary Fund (IMF) Executive Board meeting on Pakistan has been scheduled for July 12, the lender confirmed in email on Wednesday. Here's what the experts have to say when it comes to picking funds for a Roth IRA. The reforms under the RSF are expected to strengthen the The staff-level agreement is subject to approval by the IMF Executive Board, with its consideration expected by mid-July, the Washington-based lender said in a statement on its website. The IMF later confirmed the meeting had taken place and gave no further details. To: Members of the Executive Board . Appointment of EXIM Sub-Saharan Africa Advisory Committee for 2023-24 The country was awaiting the release of the remaining $2.5 billion from a $6.5 billion bailout package agreed in 2019, which expired on Friday. @Tulukan Mairandi, always toxic comments, people like you are good source of creating unwanted panic. IMF Executive Board Meeting on Greece: Full Statement and Recap By Fani Toli February 7, 2017 Christine Lagarde, the managing director of the IMF. %PDF-1.3 % The staff level agreement on the SBA is subject to approval by the IMF Executive board. Generated by Wordfence at Sun, 9 Jul 2023 7:20:29 GMT.Your computer's time: document.write(new Date().toUTCString());. The content 76 20 Subscribing is the best way to get our best stories immediately. KARACHI, Pakistan (Reuters) - The International Monetary Fund (IMF) Executive Board meeting on Pakistan has been scheduled for July 12, the lender confirmed in email on Wednesday. Dr. Betty Vandenbosch, Chief Content Officer, Coursera. Host Country Site; Virtual Exhibit; Moroccan Tourism; Resources. the disbursement of SDR 19.74 million (about US$ 26.3 million), bringing All rights reserved. A Time Warner Company. The Executive Board also approved today Nigers request for an arrangement planning and budgeting of climate-related spending, integrate Steadfast Shehbaz also stated that he was grateful to the IMF Managing Director, Kristalina Georgieva, and her team, adding that this was Pakistans opportunity to move toward progress. 0000001674 00000 n Important measures include strengthening supervision in the The best way to address AI's potential systemic risk? [1] Review of Nigers economic and financial program supported by the Extended 0000003016 00000 n 0000004771 00000 n January. Quickly. 0 The meeting was attended by Ilan Goldfajn and Julie Kozack, the head and deputy director of the IMF's Western Hemisphere Department, as well as Luis Cubeddu, the IMF's chief of mission to the country. sector development and economic diversification should be accelerated. Credit Facility arrangement (ECF). commitments. to address sources of fragility and improve the business environment. PR21/366 The staff level agreement on the SBA is subject to approval by the IMF Executive board. 09 July 2023 | Bharat Bhushan Padmadeo | Agenda, 09 July 2023 | Dr Sarvesh Pandey | Agenda, Ukraine's president hails the country's soldiers from a Black Sea island to mark 500 days of war, UN to keep pushing for extension of food and fertilizer exports from Russia and Ukraine, Wimbledon finally finished the first round 2 days later than planned. of reforms that promote resilient and inclusive growth and strengthen the . These picks offer affordable, transparent exposure to growth stocks. Shares of 335 companies were traded on Thursday, of which 200 registered an increase, 112 recorded a fall and 23 remained unchanged. The prime minister reiterated that unlike the previous government and their delays concerning the conditions put forth by the IMF, the SBA was a nine-month-long programme and the government planned to complete it within the stipulated timeline, it said. Washington, DC: Today, the into Niger's macroeconomic policy framework is central to achieving climate From: The Secretary . REUTERS/Akhtar Soomro/File Photo, Best Parent Student Loans: Parent PLUS and Private. The authorities fiscal consolidation plan appropriately aims to ensure a IMF Executive Board Meeting To Be Held On July 12 The staff-level agreement on the SBA is subject to approval by the IMF Executive board The International Monetary Fund (IMF) Executive Board meeting thefridaytimes.com - News Desk 2h Read more on thefridaytimes.com Finance Investing Small Business Business IMF More stories from IMF %%EOF Meanwhile, Pakistan has submitted a letter of intent to the IMF, assuring the lender that no new tax amnesty will be introduced in the next nine months. CNN name, logo and all associated elements and 2023 Cable News Network LP, LLLP. After 14 months: KSE-100 powers past 44,000 with over 600-point gain, Pakistani rupee registered marginal appreciation, Economic revival: Dar shares action plan with business leaders, IMF had some concerns about previous govt, says PPP leader, Salaried class launches drive against tax hike, Gas allocation policy: Industry seeks govt help to address violation, Jeddah-based ITFC signs deal to fund $1.4bn of Bangladesh oil imports, Yellen sees 'progress' in rocky US-China ties, expects more communication, Zelensky hails 'brave' Ukraine on 500th day of war, Curtailment in high wind season: Minister seeks report on UEPW accusations, 22 killed in air strike on Sudans Omdurman, Pension received from abroad: FTO directs FBR to clarify taxation procedure, At least 50 dead in Pakistan monsoon floods, Federal govt employees: 17.5pc increase in pension notified, 1,320MW Shanghai Thar Coal Block-1: Financial closure in peril as ICBC decides to withdraw $300m financing, Basis for fixation of base tariff: Rupee could hit 325 mark vs dollar by June 2024: PD, IMF seeks assurances from Pakistans political parties on commitment to new SBA, Rupee sees marginal decline, settles at 277.9 against US dollar, Projects worth Rs18bn launched: PM sets his sights on KP ahead of polls, Super tax and tax on bonus: misinterpretation of basic accountingI, Budget 2023-24: high earners to pay a higher income tax as govt revises rates, Multan Sultans owner Alamgir Khan Tareen passes away in Lahore, Private power plants: PD pays Rs300bn to trim circular debt, FBR issues increased income tax slabs for salaried class, Open-market: rupees rise continues against US dollar, Govts LoI to IMF contains 9 major assurances, Immovable properties: Tax authorities issuing super tax notices, Settles at nearly 44,200 on news that IMF board meeting is set for July 12 to consider Pakistan's SBA.
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