The International Monetary Fund (IMF) has said its executive board granted $1 billion in assistance to Pakistan this month after finding out that the country met all conditions and targets for it.
In an unexpected move, the government has terminated services of K V Subramanian as the executive director at the International Monetary Fund (IMF) six months ahead of his three-year tenure. The move comes days before the IMF executive board is to consider financial aid for debt-ridden Pakistan.
Pakistan's Ministry of Economic Affairs X account was hacked and a fake appeal was posted, calling for more international loans to help defuse tensions with India following the Pahalgam terror attack. The post urged the international community to help de-escalate the situation and requested more loans to address "heavy losses" caused by the tensions. The hacking incident occurred during a crucial meeting of the IMF executive board to decide on the next installment of a USD 7 billion loan for Pakistan.
Pakistan on Friday said that the X account of its ministry of economic affairs was hacked and an appeal was posted on it for more international loans to meet the 'heavy losses' caused by the current tensions with India.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
The highest decision making body of the IMF met at its headquarters in Washington on Saturday in the wake of the corruption charges that have surfaced against its chief.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
'For the common man, the economic conditions are not going to get better.'
Bhalla will succeed former RBI deputy governor Subir Gokarn, who died in the US on July 30 after a brief illness.
In recent times, the multilateral lending agency extended financial aid to crisis-hit nations such as Greece and Romania.
Greece was an opportunity for the IMF to set a precedent for an orderly debt resolution programme.
A look at who own the most amount of gold in the world.
In its first intervention in Asia since the beginning of the current financial crisis, the IMF has approved a $7.6 billion rescue fund for Pakistan that will support the country's economic stabilisation programme.
The IMF, in pursuance of the decisions taken at the G-20 summit in London, had decided to sell about 403.3 tonnes of gold to shore up its finances so that it can lend money to the poor countries at concessional rates.
International Monetary Fund Managing Director Rodrigo de Rato will quit the Fund in October without completing his five-year term which ends in May 2009.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Nepal's macroeconomic performance has been held back by the earthquakes and the recent unrest and disruptions to transportation and trade routes following the promulgation of a new constitution, the IMF said has said.
Part of periodic Article IV consultations on state of the economy; team to have discussions with government as well as banks, private investors and civil society
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