By Sarfraz Abbasi Published: April 29, 2019 0 SHARES Share Tweet Email It seems that the new deal with the IMF will be executed within the expected time frame. PHOTO: TWITTER/ CHRISTINE LAGARDE If we take a look at Pakistan’s history of borrowing from the International Monetary Fund (IMF), some interesting facts come to light. Pakistan’s history of knocking upon the IMF’s door started back in 1958, when General Ayub Khan first took the country to the IMF route and signed an agreement to secure special drawing rights (SDR) 25 million under a Standby Agreement. The money was never withdrawn. Not too long after, Ayub’s finance team pursued two back-to-back IMF programs in 1965 and 1968 respectively. This time, however, they ended up withdrawing around SDR 112 million, the entire agreed upon amount. This is where Pakistan officially became a new client for the IMF. After Ayub, it was Zulfikar Ali Bhutto – once the blue-eyed boy of the … [Read more...] about 22 loans in 61 years: Pakistan’s unwavering habit of going to the IMF
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Greece looks to repay IMF early as bond yields tumble
Updated 7:46 am PDT, Monday, April 15, 2019 International Monetary Fund (IMF) Managing Director Christine Lagarde speaks during a news conference after the International Monetary and Financial Committee (IMFC) conference at the World Bank/IMF Spring Meetings in Washington, Saturday, April 13, 2019. less International Monetary Fund (IMF) Managing Director Christine Lagarde speaks during a news conference after the International Monetary and Financial Committee (IMFC) conference at the World Bank/IMF Spring ... more Photo: Jose Luis Magana, AP Photo: Jose Luis Magana, AP Image 1 of / 3 Caption Close Image 1 of 3 International Monetary Fund (IMF) Managing Director Christine Lagarde speaks during a news conference after the International Monetary and Financial Committee (IMFC) … [Read more...] about Greece looks to repay IMF early as bond yields tumble
Pakistan’s currency plunges again as country seeks IMF loan
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
The Latest: On sidelines of Saudi forum, Pakistan gets loan
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
Pakistan to seek IMF loan to avert meltdown
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