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IMF

'Spend as much as you can,' IMF head urges governments worldwide

In terms of policies for right now, very unusual for the IMF, starting in March I would go out and I would say: 'please spend'. Spend as much as you can and then spend a little bit more.
Georgieva praised Russia's synchronised response to the economic challenges created by the COVID-19 pandemic.

Published 15 Jan, 2021 08:16pm

Markets

Chilean central bank to buy $12bn to replenish FX reserves

The bank said it would take the step ahead of the closing off in mid-2022 of a flexible, $24 billion credit line extended by the IMF.
The board considers it prudent to initiate a process that allows it to replace the role of the FCL (flexible credit line) by gradually accumulating international reserves.

Published 13 Jan, 2021 08:52pm

Business & Finance

IMF board, citing increased credit exposure risks, raises reserve target

The review, delayed by a few months to permit an assessment of the impact of the COVID-19 pandemic, showed a significant increase in the fund’s credit exposure and related risk since the last review in 2018, compounded by the pandemic.

Published 09 Jan, 2021 12:42pm

World

IMF projects Egypt's economy will grow 2.8pc in 2020/21 year

Egypt's economy had been boosted in the last three years by an upswing in tourism.
The growth impact of the COVID-19 crisis has so far been less severe than expected, as strong consumption helped offset weak tourism and investment.

Published 08 Jan, 2021 07:37pm

World

China should maintain modest economic support in 2021, says IMF

The world's second-largest economy is likely to grow 7.9% in 2021, accelerating from expected 1.9% growth in 2020.
China should keep "moderately supportive fiscal and monetary policies until the recovery is on solid ground," the IMF said.

Published 08 Jan, 2021 06:26pm

Opinion

Leadership, nation-building and ‘trysts’ with IMF-II: 2018 and beyond

Following the 2018 general elections, the new government led by PM Imran Khan was sworn-in on August 18, 2018. A...

Published 07 Jan, 2021 03:15am

Base tariffs of Discos: Govt in a catch-22 situation

ISLAMABAD: The federal government is said to be facing a catch-22 situation with respect to increase in base tariffs...

Published 07 Jan, 2021 03:15am

Business & Finance

IMF says unlocks $2bn for pandemic-hit Ecuador

The money is being unlocked as part of an aid plan that totals $6.5 billion and extends over 27 months, the fund said.

Published 22 Dec, 2020 08:46am

Markets

COVID-19 Pandemic in Developing Countries Conference

This conference is planned to open avenues of communication between the IMF and stakeholders in developing economies to better understand the impact of the crisis and also between low income countries and middle income emerging markets given that these country groups are facing increasingly similar challenges.

Published 11 Dec, 2020 10:45am

World

Zambia requests financing arrangement with the IMF

Zambia became Africa's first pandemic-era sovereign default last month after it failed to pay a $42.5 million coupon on one of its Eurobonds.
"The Fund is currently assessing this request,"

Published 09 Dec, 2020 12:38am

World

Colombia has drawn $5.4bn from flexible credit line, IMF says

The authorities will use the drawing to help meet higher financing needs whilst maintaining strong external buffers in a context of heightened global uncertainty.
In a separate announcement on Thursday, the central bank said it would buy $1.5 billion from the government for its international reserves.

Published 04 Dec, 2020 12:49am

Business & Finance

Completion of IMF program necessary for Pakistan, says Azhar

He said that despite the economic stability, it was necessary to complete the IMF program.

Published 28 Nov, 2020 10:53am

World

IMF more upbeat on Spain's 2020 GDP slump, cautious on 2021 rebound

The fourth quarter could however still undermine growth projections for 2021, the IMF said.
The IMF did not give a new forecast for this year, even if it said it could be better than it had initially predicted.

Published 13 Nov, 2020 07:17pm

Business & Finance

IMF chief says fiscal, monetary policy support should not be prematurely withdrawn

Georgieva made the remarks in a video message to the Caixin Summit in Beijing.

Published 13 Nov, 2020 10:09am

World

Bulgarian economy may contract more than 4pc this year: IMF

In October, the IMF forecast the small and open economy to contract by 4% in 2020 and saw its unemployment rate at 5.6%.
On Tuesday, the Balkan country of 7 million people reported 3,816 new coronavirus cases, bringing the total to 78,976, including 1,771 deaths.

Published 10 Nov, 2020 07:18pm

World

Kenya starts talks with IMF on new lending facility

The government has abandoned expensive commercial debt to cut back on ballooning repayments at a time when its revenue collection has been squeezed by the pandemic.
"We are looking at a disbursement arrangement where we, to some extent, benefit from budget support," he said.

Published 03 Nov, 2020 07:45pm

Reforms needed to turn Pakistan into a ‘resilient economy’: IMF’s Georgieva

Georgieva was of the view that the government’s policy response and support from the international community helped mitigate the impact of COVID19.

Published 22 Oct, 2020 11:26am

Countries in Asia to witness sluggish economic recovery, warns IMF

The IMF made the analysis in view of the fact that many countries in the region are struggling to come out of the economic impact after the coronavirus pandemic

Updated 22 Oct, 2020 10:51am

Business & Finance

COVID-19 may inflict a decade of economic pain to Mideast, Central Asia: IMF

On average, remittances to Middle East, North Africa, Afghanistan, and Pakistan oil importers would take more than four years (twice as long as the recovery following both the global financial crisis and the 2014–15 oil shock) to recover to pre-crisis levels,” IMF said.

Published 20 Oct, 2020 10:23am

World

Mexican finance minister meets with IMF to discuss credit line renewal

In that meeting, the subject of the credit line that Mexico has was explicitly discussed.
Last year, Mexico renewed its credit line for an equivalent of $61 billion, a reduction from $74 billion.

Published 20 Oct, 2020 12:23am

IMF chief says 'much more decisive' action needed to deal with debt problems

IMF Managing Director Kristalina Georgieva told an online event hosted by the G30 group of former policymakers.

Published 18 Oct, 2020 08:41pm

Business & Finance

Govt institutions incur over Rs1tn loss in two years, Senate told

The Ministry of Finance said in a written reply that during the two years, the loss to government institutions was more than Rs 1,014bn, in the financial year 2017-18 the loss was 563.28bn, in 2018/19 Rs 450.84bn of loss was incurred.

Published 16 Oct, 2020 03:41pm

World

IMF, World Bank marshall forces to push for aid for poorest

Despite a 5.2 percent recovery forecast for 2021, the world economy is expected to lose $28 trillion in output in the next five years.

Published 15 Oct, 2020 02:34am

World

IMF ready to help Lebanon but needs partner in government: Georgieva

"It takes two to tango," Georgieva said. "We're ready and very willing to help Lebanon; we need a partner."
Georgieva said it was sad to see the Lebanese people in such a dire situation due to the lack of political determination.

Published 15 Oct, 2020 12:17am

Business & Finance

Bangladesh set to ‘overtake’ India, as COVID-19 batters economy: IMF

The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 percent this year.

Updated 14 Oct, 2020 01:01pm

Business & Finance

IMF sees less severe global contraction but trouble in emerging markets

The IMF forecast a 2020 global contraction of 4.4% in its latest World Economic Outlook, an improvement over a 5.2% contraction predicted in June, when pandemic-related business closures reached their peak.

Published 14 Oct, 2020 10:12am

World

UK economy to slump 9.8pc this year on virus: IMF

A contraction in gross domestic product of 9.8 percent would however be an improvement on the previous IMF forecast of 10.2 percent, the Fund added.

Published 13 Oct, 2020 06:17pm

Business & Finance

IMF urges govt to increase taxes, energy tariffs

It is pertinent to mention that the global financial organization has not released any installments since December 2, 2019.

Published 13 Oct, 2020 10:40am

Markets

IMF to launch talks on new Argentina loan in November

Buenos Aires are hoping to renegotiate repayments on a $44 billion loan from the IMF in 2018.

Published 13 Oct, 2020 03:36am

Markets

More synchronized action needed to tackle COVID crisis: IMF's Georgieva

IMF chief says gold reserves needed as 'financial buffer'
World Bank could 'do even more' - Georgieva
African states face financing gap of $345 billion through 2023.

Published 13 Oct, 2020 12:33am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 29	278.37
USD PKR Interbank Buying / May 29	278.16
USD to Japanese Yen / May 29	157.06
USD to Swiss Franc / May 29	0.91
Pound Sterling to USD / May 29	1.28
Euro to USD / May 29	1.09

Stock	Volume
S&P 500 / May 28	5306.04
Nasdaq / May 28	17019.88
FTSE 100 / May 28	8254.18
Dow Jones / May 28	38852.86
Germany DAX 30 / May 28	18677.87
France CAC40 / May 28	8057.80
India Sensex / May 29	74732.81
Tokyo Nikkei / May 29	38556.87

Item	Value
Petrol/Litre / May 29	273.10
Crude Oil USD/Barrel / May 29	80.19
Karachi Cotton PKR/37.32 KG / May 29	19935
Gold 10 Grams PKR / May 29	208076
Gold Spot USD/Ounce / May 29	2355.13
Diesel/Litre / May 29	274.08

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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