The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the Fund’s Executive Board.
According to the IMF, the agreement covers two financial arrangements — $1 billion under the Extended Fund Facility (EFF) and $200 million under the Resilience and Sustainability Facility (RSF). This brings Pakistan’s total disbursements under both programmes to around $3.3 billion.
Finance Minister Muhammad Aurangzeb confirmed earlier that the government was close to finalising the deal, which marks a key step towards securing additional support from the global lender.
An IMF mission visited Islamabad last week but left without finalising the staff-level review of Pakistan’s two main financing programmes, valued at a combined $8.4 billion.
The IMF said the agreement remains subject to approval by its Executive Board, which is expected to assess the country’s fiscal performance and reform commitments before releasing the next tranche.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffi...
Icelanders will vote on Saturday, 29 August, on whether to begin negotiations with the European Union, in a referendum that could reopen the countr...
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parlia...
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
A large-scale drone attack has hit Russia's Samara region, damaging facilities and disrupting operations at an Ozon logistics complex, according to regional authorities and the company.
Ukrainian President Volodymyr Zelenskyy has rejected calls for a wartime election, arguing that holding a vote while Russia's full-scale invasion continues would divide the country and undermine national unity.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of August, covering the latest developments.
Azerbaijan and Uzbekistan have elevated bilateral ties with a Treaty on Eternal Friendship signed by Presidents Ilham Aliyev and Shavkat Mirziyoyev in Tashkent on 23 August. The leaders also agreed to expand trade, investment, transport, and regional cooperation.
Russia reported a major fire at an Ozon logistics hub in Krasnodar after a drone attack on Monday, while Ukraine’s President Volodymyr Zelenskyy denied Kyiv’s official involvement in the Nord Stream 2 pipeline blasts.
Icelanders will vote on Saturday, 29 August, on whether to begin negotiations with the European Union, in a referendum that could reopen the country’s long-debated membership question.
At least 30 people have been killed after a massive landfill collapsed onto homes in Guinea's capital, Conakry, following heavy overnight rainfall that triggered a deadly landslide of waste in one of the city's densely populated districts.
Canada has rejected a proposed trade agreement with the United States after negotiations broke down over what Ottawa described as a series of last-minute demands that would have disproportionately favoured Washington and undermined Canadian economic interests.
The Democratic Republic of Congo is set to receive 70,000 doses of the Ebola vaccine Ervebo as health authorities race to contain what has become the country's largest Ebola outbreak on record.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment