Submit News
Dialogue Pakistan
No Result
View All Result
  • Citizen Journalism
  • News
  • Videos
  • Features
  • In Pictures
  • Lifestyle
  • Urdu
  • Citizen Journalism
  • News
  • Videos
  • Features
  • In Pictures
  • Lifestyle
  • Urdu
No Result
View All Result
Dialogue Pakistan
No Result
View All Result

Pakistan can repay China’s loans while staying in the IMF program

Web Desk by Web Desk
April 20, 2020
in News
0
debt
2
SHARES
16
VIEWS
Share on FacebookShare on Twitter

Pakistan will repay its loans from China while staying in the International Monetary Fund (IMF) programme, IMF Resident Representative Teresa Daban Sanchez told Pakistan on Monday.

Speaking to a seminar, Sanchez said the world is facing a range of challenges due to the coronavirus pandemic; the IMF has given $50 billion globally to tackle the effects of COVID-19.

She said Pakistan has taken timely steps to counter coronavirus. Monetary changes and steps had been taken prior to the coronavirus crisis. Sanchez said the economy of the country was slowly improving after the IMF programme, while the tax revenues of Pakistan were also rising.

However, she informed, Pakistan’s economic growth rate is expected to decline due to the impact of the coronavirus. The inflation rate this fiscal year is forecast to remain at 11.3 per cent. Pakistan’s spending could rise by up to Rs700 billion, while the country’s tax receipts are expected to fall by Rs900 billion.

The IMF Resident Representative further said the IMF has no interest in Pakistan’s decision on petroleum prices. Whether the government raises the tax on petroleum, it is their prerogative.

Sanchez told that the IMF did not allow Pakistan to delay its loan payments.
Speaking of Pakistan’s electricity sector, Sanchez said the authorities needed to implement reforms in this critical field, improve management, reduce line losses and increase their output.

It is important to inform that the IMF’s Executive Board approved a purchase of Pakistan under the Rapid Financing Instrument (RFI) equal to US$ 1,386 billion in SDRs to meet the urgent balance of payment needs resulting from the COVID-19 pandemic outbreak.

“The outbreak of COVID-19 is having a significant impact on the Pakistani economy. The domestic containment measures, coupled with the global downturn, are severely affecting growth and straining external financing. This has created an urgent balance of payments need,” said Geoffrey Okamoto, First Deputy Managing Director, and Acting Chair.

“In this context of heightened uncertainty, IMF emergency financing under the Rapid Financing Instrument provides strong support to the authorities’ emergency policy response, preserving fiscal space for essential health spending, shoring up confidence, and catalyzing additional donor support,” he added.

Tags: IMFPakistan
Previous Post

Five arrested for stealing thermal guns from store of health services directorate

Next Post

Six members of Tableeghi Jamaat test positive for coronavirus

Next Post
Six members of Tableeghi Jamaat test positive for coronavirus

Six members of Tableeghi Jamaat test positive for coronavirus

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Petrol prices set according to international markets: Government

Petrol prices set according to international markets: Government

1 year ago
drug

Mourners on high after marijuana cake served at funeral

1 year ago

Popular News

  • FIA team raids, interrogates at software house for 10 hours in Karachi

    FIA team raids, interrogates at software house for 10 hours in Karachi

    175 shares
    Share 70 Tweet 44
  • Javed Afridi announces plan for running Peshawar-Karachi bullet train

    47 shares
    Share 19 Tweet 12
  • Navin Waqar opens up about being single

    23 shares
    Share 9 Tweet 6
  • Sandal Khattak, Hareem Shah identity revealed

    1405 shares
    Share 590 Tweet 340
  • It’s unfair that you eat Papa John’s pizza, offer us just tea, water: Fazl

    12 shares
    Share 5 Tweet 3

Dialogue Pakistan

Citizen Journalism is the collection, dissemination and analysis of news by the people for the people especially by the means of internet. Dialogue Pakistan is the country's first citizen journalism portal to provide Pakistanis an opportunity to get themselves heard aiming to encourage citizen journalism inculcated with ethical values.

Category

  • Audio
  • Citizen Journalism
  • Documentaries
  • Feature Videos
  • Features
  • In House Videos
  • IN PICTURES
  • Lifestyle
  • Mobile Footage
  • New Catagory
  • News
  • News Roundup
  • Pakistan Super League
  • Photo Journalism
  • Press Conferences
  • Special Feature
  • Sports
  • Videos

Quick Links

  • About
  • Advertise
  • Careers
  • Contact

Follow us on

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2020. Dialogue Pakistan. All Rights Reserved.
Web Development & Social Media Management by Digital Otters

No Result
View All Result
  • Citizen Journalism
  • News
  • Videos
  • Features
  • In Pictures
  • Lifestyle
  • Urdu

Copyright © 2020. Dialogue Pakistan. All Rights Reserved.
Web Development & Social Media Management by Digital Otters