On 26 March, Prime Minister Shehbaz Sharif also indicated that his government was planning to approach the IMF for "another programme", a few days after the country grappled with the economic crisis, regarding the disbursement of the final loan. Entered into an employee-level agreement with Global Credit. Tranche of US$1.1 billion.
“Pakistan is set to make a formal request to the IMF during the upcoming annual spring meetings for the enhancement of the next bailout package through climate finance,” the report said, quoting top official sources.
The size and duration of the upcoming bailout package will be worked out by the IMF's review mission, which is expected to hold talks possibly from the first week of May 2024 to finalize the key contours of the upcoming bailout package.
Sources said Pakistan has decided to request an increase to the EFF through climate finance, so it is likely to secure a size of US$6 billion to US$8 billion for the upcoming programme."We are going to present our argument to the IMF management that Pakistan faces serious consequences of climate degradation and deserves support from the international community and donor agencies," the report quoted sources as saying.
The source said the Resilience and Stability Facility (RSF) was an IMF instrument to provide affordable long-term financing to reforming countries to mitigate potential balance of payments stability risks related to climate change and pandemic preparedness. .
“By reducing potential balance of payments risks, the RSF arrangement aims to contribute to long-term balance of payments (BoP) stability. In some cases, the RSF arrangement may also have an impact on short-term and medium-term BOP needs, the newspaper said.
It adds that IMF staff should describe program documentation risks to potential BOP stability that could meet long-term BOP financing needs associated with the relevant long-term structural challenge.News International further said that it contacted the Washington DC-based IMF spokesperson last week and asked whether Pakistan's total public debt is sustainable. He (the spokesperson) referred to the last IMF Dawn review under the Standby Arrangement (SBA), under which the IMF had described the country's debate as being within the stability zone.
Pakistan's total public debt is projected to increase to Rs 120 trillion over the medium term, as projected by the IMF over the next three to five year period.
Pakistan has also approved Public Investment Management Assessment (PIMA framework including Climate-PIMA) under the guidelines of IMF's Technica report.
Earlier this month, the World Bank's biennial Pakistan Development Outlook report painted a grim economic picture, showing that the country has failed to meet almost all key macroeconomic targets, warning that 10 More than million people are at risk of falling into poverty.The Washington-based lender's apprehension stems from a sluggish economic growth rate of 1.8 percent as well as rising inflation, which is at a staggering 26 percent in the current fiscal year.
“Pakistan is set to make a formal request to the IMF during the upcoming annual spring meetings for the enhancement of the next bailout package through climate finance,” the report said, quoting top official sources.
The size and duration of the upcoming bailout package will be worked out by the IMF's review mission, which is expected to hold talks possibly from the first week of May 2024 to finalize the key contours of the upcoming bailout package.
Sources said Pakistan has decided to request an increase to the EFF through climate finance, so it is likely to secure a size of US$6 billion to US$8 billion for the upcoming programme."We are going to present our argument to the IMF management that Pakistan faces serious consequences of climate degradation and deserves support from the international community and donor agencies," the report quoted sources as saying.
The source said the Resilience and Stability Facility (RSF) was an IMF instrument to provide affordable long-term financing to reforming countries to mitigate potential balance of payments stability risks related to climate change and pandemic preparedness. .
“By reducing potential balance of payments risks, the RSF arrangement aims to contribute to long-term balance of payments (BoP) stability. In some cases, the RSF arrangement may also have an impact on short-term and medium-term BOP needs, the newspaper said.
It adds that IMF staff should describe program documentation risks to potential BOP stability that could meet long-term BOP financing needs associated with the relevant long-term structural challenge.News International further said that it contacted the Washington DC-based IMF spokesperson last week and asked whether Pakistan's total public debt is sustainable. He (the spokesperson) referred to the last IMF Dawn review under the Standby Arrangement (SBA), under which the IMF had described the country's debate as being within the stability zone.
Pakistan's total public debt is projected to increase to Rs 120 trillion over the medium term, as projected by the IMF over the next three to five year period.
Pakistan has also approved Public Investment Management Assessment (PIMA framework including Climate-PIMA) under the guidelines of IMF's Technica report.
Earlier this month, the World Bank's biennial Pakistan Development Outlook report painted a grim economic picture, showing that the country has failed to meet almost all key macroeconomic targets, warning that 10 More than million people are at risk of falling into poverty.The Washington-based lender's apprehension stems from a sluggish economic growth rate of 1.8 percent as well as rising inflation, which is at a staggering 26 percent in the current fiscal year.
