World

Pakistan delegation to appeal for new multi-billion-dollar agreement with IMF during Washington visit

Pakistan has initiated discussions with the global lender, International Monetary Fund (IMF), over a new multi-billion-dollar agreement to support its economic reform programme, stressing that the country will at least be appealing for a three-year programme, Dawn reported, citing Pakistan’s Finance Minister.

Finance Minister Muhammad Aurangzeb, on his visit to Washington, will attend the spring meetings organised by the IMF and World Bank, beginning on Tuesday.

Citing sources, ARY News reported that the negotiations between Pakistan and the IMF are scheduled for next week.

The Pakistani delegation consists of the Governor of the State Bank of Pakistan, the Secretary of Finance, the Additional Secretary, and other individuals.

The meetings will have two clear objectives, including, helping countries combat climate change and assisting the world’s most indebted nations.

The meetings, which bring central bankers together with finance and development ministers, academics, and representatives from the private sector and civil society to discuss the state of the global economy, will kick off with the IMF’s publication of its updated World Economic Outlook, Dawn reported.

Pakistan witnessed its general elections in February this year, marred by allegations of rigging with Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan in prison, barred from running elections, and his party subject to a crackdown, according to Dawn.

Later, the shaky coalition led by Prime Minister Shehbaz Sharif was tasked with dealing with an economic upheaval and bringing up measures to resolve it.

Last month, Pakistan and the IMF came to a staff-level agreement over the third and final review of the USD 3 billion standby arrangement.

ANI

Ani service

Recent Posts

UK working with local authorities in India to establish facts and provide support: UK Foreign Secy David Lammy on plane crash

UK Foreign Secretary David Lammy has expressed sadness over the plane crash in Ahmedabad and…

15 minutes ago

LTWA marks 55 years of Tibetan heritage preservation amid continued threats from China

On the auspicious day of June 11, 2025, the Library of Tibetan Works and Archives…

1 hour ago

EAM Jaishankar meets French President Macron, highlights strategic ties and cooperation

External Affairs Minister S. Jaishankar met French President Emmanuel Macron and conveyed Prime Minister Narendra…

2 hours ago

Baloch activist Mahrang Baloch exposes Pakistani state repression from prison cell

Mahrang Baloch, a well-known Baloch rights activist, accused the Pakistani government of targeting peaceful dissenters…

2 hours ago

Gujarat plane crash: PM Modi speaks to Civil Aviation Minister Naidu, takes stock of situation

Prime Minister Narendra Modi on Thursday spoke to Union Civil Aviation Minister Rammohan Naidu and…

2 hours ago

Russia returns bodies of over 1,200 Ukrainian soldiers

Russia has returned the remains of 1,212 Ukrainian soldiers in the latest exchange with Kiev,…

6 hours ago