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Pakistan’s currency plunges again as country seeks IMF loan

November 30, 2018 sfgate Leave a Comment

Updated 4:30 am PST, Friday, November 30, 2018 A Pakistani money changer counts US dollar bills in Islamabad, Pakistan, Friday, Nov. 30, 2018. Pakistan's currency has plunged further as the country is mired in a financial crisis and seeking an $8 billion bailout package from the International Monetary Fund. The Pakistani rupee was trading at 142 to the dollar on Friday, a decline from 133.90 rupees to $1 at close of business the previous day. less A Pakistani money changer counts US dollar bills in Islamabad, Pakistan, Friday, Nov. 30, 2018. Pakistan's currency has plunged further as the country is mired in a financial crisis and seeking an $8 billion ... more Photo: B.K. Bangash, AP Photo: B.K. Bangash, AP Image 1 of / 3 Caption Close Image 1 of 3 A Pakistani money changer … [Read more...] about Pakistan’s currency plunges again as country seeks IMF loan

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The Latest: On sidelines of Saudi forum, Pakistan gets loan

October 24, 2018 sfgate Leave a Comment

Updated 12:02 am PDT, Wednesday, October 24, 2018 In this photo released by Saudi Press Agency, SPA, Saudi Crown Prince Mohammed bin Salman, right, shakes hands with Salah Khashoggi, a son, of Jamal Khashoggi, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018. Saudi Arabia, which for weeks maintained that Jamal Khashoggi had left the Istanbul consulate, on Saturday acknowledged he was killed there in a "fistfight." (Saudi Press Agency via AP) less In this photo released by Saudi Press Agency, SPA, Saudi Crown Prince Mohammed bin Salman, right, shakes hands with Salah Khashoggi, a son, of Jamal Khashoggi, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018. ... more Photo: Untitled, AP In this photo released by Saudi Press Agency, SPA, Saudi King Salman, right, points to Salah, a son, of Jamal Khashoggi as Crown Prince Mohammed bin Salman, second right, looks on, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018. … [Read more...] about The Latest: On sidelines of Saudi forum, Pakistan gets loan

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Pakistan to seek IMF loan to avert meltdown

October 8, 2018 sfgate Leave a Comment

Updated 10:58 pm PDT, Monday, October 8, 2018 In this Jan. 20, 2017, photo, villagers collect clean water from a broken water supply line in the suburbs of Islamabad, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund to address a mounting balance of payments crisis, Finance Minister Asad Umar said Monday. less In this Jan. 20, 2017, photo, villagers collect clean water from a broken water supply line in the suburbs of Islamabad, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund ... more Photo: B.K. Bangash, AP FILE In this Dec. 7, 2015, file photo, vendors visit a wholesale market to buy Jaggery, in Peshawar, Pakistan. Pakistan says it will seek a bailout loan from the International Monetary Fund to address a mounting balance of payments crisis, Finance Minister Asad Umar said Monday. less FILE In this Dec. 7, 2015, file photo, … [Read more...] about Pakistan to seek IMF loan to avert meltdown

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IMF says trade tensions, debt load threaten world economy

April 21, 2018 pressofatlanticcity Leave a Comment

WASHINGTON (AP) — The International Monetary Fund's policymaking committee said Saturday that a strong world economy is threatened by increasing tension over trade and countries' heavy debt burden. Longer-term prospects are clouded by sluggish growth in productivity and aging populations in wealthy nations.In a statement at the end of three days of meetings, the lending agency urged countries to take advantage of the broadest-based economic expansion in a decade to cut government debt and to enact reforms that will make their economies more efficient.The IMF expects the world economy to grow 3.9 percent this year and next, which would be the strongest since 2011. But an intensifying dispute between the U.S. and China over Beijing's aggressive attempt to challenge U.S. technological dominance has raised the prospect of a trade war that could drag down worldwide growth."Trade tensions are not to the benefit of anyone," said Lesetja Kganyago, who leads the policymaking committee and … [Read more...] about IMF says trade tensions, debt load threaten world economy

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US calls on IMF to do more to address unfair trade practices

April 21, 2018 pressofatlanticcity Leave a Comment

WASHINGTON (AP) — Treasury Steven Mnuchin wants the International Monetary Fund to do more to address what the Trump administration says are unfair trade practices and says the World Bank should steer cheap loans away from China and toward poorer countries.Such trade policies "impede stronger U.S. and global growth, acting as a persistent drag on the global economy," Mnuchin said as the lending agencies were poised Saturday to wrap up their spring meetings, where the administration's "America First" approach has put it at odds with other countries.He urged the IMF to go beyond its traditional role as an emergency lender for countries in financial distress and said it should more closely monitor the practices of countries that persistently run large trade surpluses."The IMF must step up to the plate on this issue, providing a more robust voice," Mnuchin said. "We urge the IMF to speak out more forcefully on the issue of external imbalances."The World Bank, he said, must not back … [Read more...] about US calls on IMF to do more to address unfair trade practices

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