Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

Slim Chance of Pakistan Getting IMF Bailout by January 15: Report

Pakistan is seeking USD 8 billion from the International Monetary Fund to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.

PTI

Updated:December 7, 2018, 11:07 PM IST
facebookTwittergoogleskypewhatsapp
Loading...
Islamabad: Pakistan's desire to get an IMF bailout package approved by January 15 may not be fulfilled as the global monetary body wants Islamabad to adopt steeper measures to address the external sector imbalances before sending the cash-strapped country's case to its Executive Board, according to a media report.

Pakistan is seeking USD 8 billion from the International Monetary Fund (IMF) to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.

The Express Tribune quoting sources in the ministry of finance said that the two sides made their first contact on Thursday for the first time since November 20 when they concluded their first talks for the bailout package.

Finance Minister Asad Umar and the IMF's Washington-based mission chief Harald Finger made contact through a video link, the report said. The two sides discussed the developments that took place during three weeks.

Talks between Pakistan and the IMF remained inconclusive last month after both sides could not bridge the gulf on issues like the increase in electricity prices, hike in interest rate, rupee devaluation and tax collection targets.

At that time, Pakistani officials had claimed that the staff-level agreement could be reached before Christmas holidays and Pakistan could request the IMF to send its case to the next board meeting, tentatively scheduled for January 15.

Both the sides showed flexibility and talks on Thursday were held in a more conducive environment than last month, said a senior official of the ministry.

The finance minister informed the IMF mission head about developments on exchange rate and monetary policy.

The sources said that the IMF welcomed both the developments but urged Pakistan to continue these necessary actions to address the external sector imbalances. The IMF wanted further adjustments in the exchange rate and monetary policy, said the sources.

During the video conference link, the two sides also discussed the issue of the increase in the electricity prices that remain unimplemented.



The IMF was demanding 22 per cent further increase in electricity prices to address the issue of the circular debt.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results