Pakistan Financial Crisis
Recent Highlights
All Stories for Pakistan Financial Crisis
Pakistan to receive $4.5 billion 'oil financing facility' from Saudi Arabia's Islamic Development Bank over three years
•Pakistan, amidst its financial crisis, is also negotiating an $8 billion bailout package from the IMF. Saudi Arabia and UAE have also agreed to provide $3 billion each to ease the pressure.
Daily Bulletin: BJP-Congress slugfest over EVM rigging allegations; Modi to inaugurate Subhash Chandra Bose museum at Red Fort; day's top stories
Fp Staff •Today's top stories: Political slugfest over EVM hacking is refusing to die down with the BJP claiming that Congress is conspiring against it; Narendra Modi will inaugurate Subhash Chandra Bose museum at Red Fort today.
UAE crown prince likely to announce $6.2 billion financial aid to Pakistan, akin to Saudi Arabia's assistance
•The UAE government's financial assistance comes as Pakistan is negotiating an $8 billion bailout package from the International Monetary Fund (IMF) to overcome a severe balance-of-payments crisis that threatens to cripple the country's economy.
Imran Khan calls for new law to reduce money laundering in Pakistan; legislation to be finalised next week
•The law, to be finalised within a week's time, would further strengthen existing laws to effectively check money laundering and other illegal and corrupt practices.
US suspended $3 billion, not $1.3 billion as quoted by White House, in security aid to Pakistan in 2018: Sources
•The $3 billion security aid to Pakistan that the US suspended, is much higher than the $1.3 billion quoted by President Donald Trump this month and $1.66 billion reported by the Pentagon last week.
Pakistan says 'substantive progress' made in bailout talks with IMF; global lender proposes increased energy prices, taxes
•Both Pakistan and the IMF still have a wide gap in their positions on the need for the increase in electricity tariff, upward revision in the revenue target and additional tax measures on matters relating to Chinese assistance and its impact — both inflow and outflow.
IMF staff mission to visit Islamabad next week, initiate talks with Pakistan over bailout application
•IMF Director of Communications Gerry Rice told reporters that the discussions with Pakistan are likely to begin on 7 November. An IMF staff mission will go to Islamabad and initiate discussions with the authorities.
Imran Khan, XI Jinping sign 16 agreements to curb poverty in Pakistan; Beijing declines to reveal amount loaned to Islamabad
•Khan is in Beijing on his maiden visit to China as the two countries grapple to iron out differences over the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) and Islamabad approaching 'friendly nations' to avoid a tough IMF bailout package.
Daily Bulletin: Shashi Tharoor calls PM Narendra Modi 'hero on white stallion'; security heightened at Sabarimala; day's top stories
Fp Staff •Today's top stories: Florida police identify the Florida yoga studio shooter as Scott Paul Beierle; Asia Bibi's husband calls for her protection in jail; Shashi Tharoor says Narendra Modi a "hero on a white stallion with an upraised sword in his hand"; and more