IMF approves immediate release of final $1.1 billion tranche of $3 billion bailout to Pakistan
Time:2024-05-21 10:53:51 Source:sportViews(143)
KABUL, Afghanistan (AP) — The International Monetary Fund on Monday approved the immediate release of the final $1.1 billion tranche of a $3 billion bailout to Pakistan, the global lender said in a statement.
Pakistan needs the money to overcome one of the worst economic crises in its history that had raised fears it could default on the payment of foreign debts.
As part of the bailout conditions, the government was required to reduce subsidies intended to cushion the impact of rising living costs. This contributed to an increase in prices, especially energy bills, and angered the public. Islamabad also imposed new taxes, another unpopular move.
But an IMF official said the country’s “determined policy efforts” have brought progress in restoring economic stability.
Moderate growth has returned, external pressures have eased and, while still elevated, inflation has begun to decline, said Antoinette Sayeh, the IMF’s deputy managing director and chair, in the statement.
Previous:Shohei Ohtani's first walk
Next:Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
You may also like
- Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
- More Measures Called for to Boost Births
- Spring Bud Girls Attend 2023 Changchun Air Show
- Traditional Ethnic Culture Enjoys Modern Glory on School Campuses
- Nadal returns to Roland Garros to practice amid doubts over fitness and form
- China's Eight
- Spring Bud Girls Attend 2023 Changchun Air Show
- Across China: Young Chinese Couples Go Retro, Announcing Marriages in Newspapers
- Messi in and Dybala out in Argentina squad for pre