Pakistan secures new $7 billion loan from IMF offering breather for govt

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Pakistan has also agreed to reform its energy sector by implementing regular price adjustments and privatizing state-owned entities.

Finance Minister Muhammad Aurangzeb has said that the loan package is necessary to attract more foreign investments.

The nation has moved from one loan program to another amid chronic economic crisis, completing its last IMF program of about $3 billion in April.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaMaliPakistanSaudi ArabiaUnited Arab Emirates

Topics: International Monetary Fund Shehbaz Sharif government IMF IMF policy change IMF surcharges Pakistan economy Pak army Gross borrowing IMF loan to Pakistan World Bank Pakistan economic crisis

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-13 @ 09:44:38 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21590663

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