Pakistan Finance Minister Aurangzeb says new IMF deal to help country’s macroeconomic stability | Pakistan News

Pakistan’s Finance Minister Muhammad Aurangzeb on Saturday said the USD 7 billion aid package deal struck with the IMF would help bring macroeconomic stability to the cash-strapped country. The International Monetary Fund (IMF) announced the aid package, spread over more than three years, late on Friday night, giving much-needed respite to the nation that has been facing chronic economic issues. The programme needs to be approved by the IMF’s Executive Board. The Washington-based international lender in a statement said the deal should enable Pakistan to “cement macroeconomic stability and create…

IMF: International Monetary Fund says Sri Lanka on road to agreement with it

[ad_1] Colombo : International Monetary Fund had constructive and productive discussions with the Sri Lankan authorities on economic policies and reforms, which were to be supported by a International Monetary Fund Extended Fund Facility Arrangement, it said in a release on Thursday. The statement raises hopes that the beleaguered country can put its public finances in order and reassure creditors. “Discussions will almost continue with a view to reaching an employee-level agreement on the EFF arrangement in the near term,” the IMF said. The island of 22 million people is…

IMF: Hard currency growth in India’s forex reserves limited to just $4 billion in FY12

[ad_1] India added $ 47.5 billion to this foreign exchange reserves Last fiscal year, down almost half of the previous year. But a drill down of the data shows that about $26 billion of those incremental reserves were due for approval. special Drawing Rights From International Monetary Fund and revaluation of gold reserves. Only $4 billion worth of hard foreign currency assets were added to the forex kitty. An additional $17.7 billion in reserves was provided by the IMF SDR The allocation and the increase in the value of gold…

Recession: US economy will ‘narrowly survive’ recession in 2022 and 2023: IMF

[ad_1] US economy Likely to slow down in 2022 and 2023, but will “avoid a recession” federal Reserve The International Monetary Fund said it implements its rate-tightening plan to curb inflation. “The policy priority now should be to rapidly slow down wage and price increases without the onset of a recession” International Monetary Fund said in a statement on Friday. “This will be a difficult task,” as global supply shortages and domestic labor shortages are likely to persist, and the war in Ukraine creates additional uncertainty, it said. Managing director…