Pakistan to get $107m SFD loan for two hydro projects | The Express Tribune

ISLAMABAD: The Saudi Fund for Development (SFD) has signed two loan agreements to the tune of $107 million with Pakistan for hydropower projects in Azad Jammu and Kashmir (AJK). A visiting SFD delegation called on Economic Affairs Minister Ahad Khan Cheema in Islamabad. Later, Economic Affairs Division Secretary Dr Kazim Niaz and SFD CEO Sultan […]

Pakistan ‘secures’ $2 billion loan rollover from China

Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. — PPI ISLAMABAD: In a major boost to the country’s foreign exchange reserves, China has rolled over $2 billion to Pakistan, Ministry of Finance sources told Geo News on Wednesday. Pakistan has borrowed $2 billion from China […]

IMF loan uncertainty very high | The Express Tribune

KARACHI: Moody’s Investors Service has given a “credit negative” signal to Pakistan in the face of prolonged political ambiguity and social tensions over election results, which will make it tough to approach the IMF for a new programme, weaken external economy and make liquidity management more challenging. In its report titled “Political uncertainty persists in […]

PM Kakar requests Chinese counterpart to rollover $2bn loan

A money changer counts US dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. — Reuters Caretaker Prime Minister Anwaar-ul-Haq Kakar Friday wrote a letter to his Chinese counterpart Li Qiang, requesting him to rollover Pakistan’s $2 billion loan for a year, sources told Geo News. According to the sources, the […]

IMF releases $700m loan tranche for Pakistan

The seal for the International Monetary Fund is seen in Washington, US, on January 10, 2022. — AFP In a significant development for Pakistan’s struggling economy, the International Monetary Fund (IMF) has disbursed $700 million as part of the previously agreed upon bailout programme, State Bank of Pakistan (SBP) Governor Jameel Ahmed confirmed Wednesday. The […]

IMF board approves much-needed $700m loan for Pakistan

IMF’s logo on a building’s door. — AFP/File In an encouraging move, the International Monetary Fund’s (IMF) Executive Board on Thursday approved a $700 million loan tranche for Pakistan. The loan was released after the board completed its first review of Pakistan’s economic reform programme supported by a standby arrangement (SBA), the Ministry of Finance […]

$600m loan linked to IPP debt | The Express Tribune

ISLAMABAD: Two Chinese commercial banks have linked their $600 million loans with the prior settlement of the debt that Pakistan owes to the Chinese power plants—a condition that Islamabad has refused to accept because of its implications on the budget and setting a wrong precedent. Government sources told The Express Tribune that the prospects of […]

$600m commercial loan linked to IPP debt | The Express Tribune

ISLAMABAD: Two Chinese commercial banks have linked their $600 million loans with the prior settlement of the debt that Pakistan owes to the Chinese power plants—a condition that Islamabad has refused to accept because of its implications on the budget and setting a wrong precedent. Government sources told The Express Tribune that the prospects of […]

Pakistan inks $1.2 billion loan agreement with ADB

An image of the headquarters of the Asian Development Bank (ADB). — ADB website/File The Asian Development Bank (ADB) Wednesday confirmed that it has inked a $1.2 billion loan agreement with Pakistan. The agreement, signed on December 15, provisions budget funding and initiatives focused on domestic resource mobilisation and also features six projects aimed towards […]

Pakistan, ADB ink $1.2b loan deals | The Express Tribune

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) have signed six loan agreements worth $1.2 billion, with one-third of it to be disbursed as budget financing, reopening choked financing pipelines after reaching a deal with the International Monetary Fund (IMF). The loan agreements were signed by the Economic Affairs Division (EAD) and the local office […]

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