{"id":101623,"date":"2023-04-19T11:01:00","date_gmt":"2023-04-19T05:31:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=101623"},"modified":"2023-04-19T10:58:23","modified_gmt":"2023-04-19T05:28:23","slug":"pak-imf-5","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pak-imf-5\/","title":{"rendered":"Pakistan government shares plan with IMF to secure additional USD 3 billion support: Report"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2111144308\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country&#8217;s stalled bailout plan, it emerged on Wednesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1499104209\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The Washington-based global lender had asked Pakistan to arrange USD 6 billion in external financing but so far only USD 3 billion were arranged after Saudi Arabia agreed to provide USD 2 billion and the UAE pledged USD 1 billion. The USD 6 billion gaps had been worked out on the premise that Pakistan\u2019s current account deficit would remain around USD 7 billion in the current fiscal year ending on June 30, The Express Tribune newspaper reported on Wednesday.<\/p><p>The Pakistan Muslim League-Nawaz (PML-N) led coalition government has informed the International Monetary Fund (IMF) about its plan to secure a USD 450 million worth second Resilient Institutions for Sustainable Economy (RISE-II) budget support loan, it said.<\/p><p>The government has also shared its plans to get USD 1 billion from Asian Infrastructure Investment Bank (AIIB) and other commercial banks to materialise pledges secured at the Geneva moot.<\/p><div class=\"trade-content_5\" id=\"trade-663961027\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Geneva conference held in January this year pledged several billion dollars to help Pakistan combat the challenges of climate change.<\/p><p>The global community of 40 countries committed a sum exceeding USD 10 billion for 2022 devastating floods causing around USD 30 billion in infrastructure and economic damages.<\/p><p>Official sources said that Pakistan asked the fund to give a nod to the agreement to release USD 1.1 billion out of a USD 7 billion bilateral program agreed upon in 2019, to make it easier to raise loans from the global market.<\/p><p>Interestingly, all bilateral and multilateral donors and countries have also refused to provide loans to Islamabad until the IMF approved its agreement.<\/p><p>The IMF has put forward tough conditions during talks held in February and refused to approve a staff-level agreement to release funds.<\/p><p>The Shehbaz Sharif government has expressed anguish and frustration at the rough conditions by the fund but has been forced to toe the line due to the fear of default.<\/p><div class=\"trade-content-10\" id=\"trade-1966108464\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The premier had earlier said that his country had fulfilled all &#8220;tough&#8221; conditions of the IMF for the staff-level agreement and that it should not delay in approving the agreement.<\/p><p>But it is believed that the chances are slim and Pakistan would have to provide assurances that it would arrange USD 3 billion to bridge the financing gap.<\/p><p>Cash-strapped Pakistan and the IMF have failed to reach a staff-level agreement on the much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt.<\/p><p>The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations. PTI SH FZH FZH<\/p><div class=\"trade-after-content\" id=\"trade-2770944430\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country&#8217;s stalled bailout plan, it emerged on Wednesday. The Washington-based global lender had asked Pakistan to arrange USD 6 billion in external financing [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":97627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-101623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pakistan government shares plan with IMF to secure additional USD 3 billion support: Report - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country&#039;s stalled bailout plan, it emerged on Wednesday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pak-imf-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan government shares plan with IMF to secure additional USD 3 billion support: Report\" \/>\n<meta property=\"og:description\" content=\"Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country&#039;s stalled bailout plan, it emerged on Wednesday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/pak-imf-5\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-19T05:31:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/pakistan-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/pakistan-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/pak-imf-5\/\",\"url\":\"https:\/\/tradebrains.in\/features\/pak-imf-5\/\",\"name\":\"Pakistan government shares plan with IMF to secure additional USD 3 billion support: Report - 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