IMF approves immediate release of final $1.1 billion tranche of $3 billion bailout to Pakistan
Time:2024-04-30 13:45:09 Source:opinionsViews(143)
KABUL, Afghanistan (AP) — The International Monetary Fund on Monday approved the immediate release of the final $1.1 billion tranche of a $3 billion bailout to Pakistan, the global lender said in a statement.
Pakistan needs the money to overcome one of the worst economic crises in its history that had raised fears it could default on the payment of foreign debts.
As part of the bailout conditions, the government was required to reduce subsidies intended to cushion the impact of rising living costs. This contributed to an increase in prices, especially energy bills, and angered the public. Islamabad also imposed new taxes, another unpopular move.
But an IMF official said the country’s “determined policy efforts” have brought progress in restoring economic stability.
Moderate growth has returned, external pressures have eased and, while still elevated, inflation has begun to decline, said Antoinette Sayeh, the IMF’s deputy managing director and chair, in the statement.
Previous:Messi to Miami: Soccer star, and a few teammates, show up for Heat
Next:Chemical and biological methods help restore ancient books in north China
You may also like
- Iconic former Uruguayan President Jose Mujica says he has esophageal cancer
- The iconic American rivers becoming so filthy with pollution they are 'endangered'
- Harbaugh likes Chargers being in the fifth overall position going into the NFL draft
- Civilian interrogator defends work at Abu Ghraib, tells jury he was promoted
- Supreme Court will hear case claiming CBD product got trucker fired
- An earthquake measuring 5.6 hits central Turkey. No immediate reports of casualties or damage
- Olivia Dunne congratulates LSU teammate on winning top award ahead of semifinals meet
- Caitlin Clark mobbed by fans at introductory Indiana Fever press conference
- Inside Kate Middleton and Prince William's 13