LIVE: Sindh News Online SN TV

  • Trending
  • Comments
  • Latest
PIA plane crash: Punjab CM meets family of martyred pilot

PIA plane crash: Punjab CM meets family of martyred pilot

May 24, 2020
PIA plane crash: Investigation team finds engine scratch marks on runway

PIA plane crash: Investigation team finds engine scratch marks on runway

May 24, 2020
Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

November 11, 2020

Lady Gaga Pulled Off One of the Best Halftime Shows Ever

0

Barack Obama’s Now Mainly Focusing on Wearing This Casual Backwards Hat

0

Watch Justin Timberlake’s ‘Cry Me a River’ Come to Life in Mesmerizing Dance

0
All eyes on SC’s historic hearing on suo motu notice: Fawad

All eyes on SC’s historic hearing on suo motu notice: Fawad

May 19, 2022
Omar Cheema moves IHC against his removal as Governor Punjab

Omar Cheema moves IHC against his removal as Governor Punjab

May 19, 2022
SC bars govt from transferring officers investigating high-profile cases

SC bars govt from transferring officers investigating high-profile cases

May 19, 2022

Follow Us

  • 116 Followers
  • 27.7k Followers
  • 174k Subscribers
  • 651 Followers

Most Popular

PIA plane crash: Punjab CM meets family of martyred pilot

PIA plane crash: Punjab CM meets family of martyred pilot

May 24, 2020
PIA plane crash: Investigation team finds engine scratch marks on runway

PIA plane crash: Investigation team finds engine scratch marks on runway

May 24, 2020
Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

November 11, 2020
COAS visits LoC, says Army celebrating Eid-ul-Fitr in solidarity with Kashmiris under lockdown

COAS visits LoC, says Army celebrating Eid-ul-Fitr in solidarity with Kashmiris under lockdown

May 24, 2020
Online Tribute paid to famous Sindhi Fiction writer and Novelist Ali Baba on eve of his Birthday

Online Tribute paid to famous Sindhi Fiction writer and Novelist Ali Baba on eve of his Birthday

July 26, 2020
Social activist and journalist Shaheena Shaheen shot dead in Turbat

Social activist and journalist Shaheena Shaheen shot dead in Turbat

September 5, 2020
Load More
  • URDU
  • SINDHI
Monday, August 8, 2022
  • Login
Sindh News Online
  • Home
  • News
    • All
    • Business
    • Pakistan
    • Politics
    • Science
    • World
    All eyes on SC’s historic hearing on suo motu notice: Fawad

    All eyes on SC’s historic hearing on suo motu notice: Fawad

    Omar Cheema moves IHC against his removal as Governor Punjab

    Omar Cheema moves IHC against his removal as Governor Punjab

    SC bars govt from transferring officers investigating high-profile cases

    SC bars govt from transferring officers investigating high-profile cases

    Pakistani soldiers sacrificed their lives for protection of motherland: COAS

    Pakistani soldiers sacrificed their lives for protection of motherland: COAS

    CJP takes suo motu notice of govt’s interference in investigative institutions

    CJP takes suo motu notice of govt’s interference in investigative institutions

    Punjab govt reduces price of 10kg flour bag to Rs 490

    Punjab govt reduces price of 10kg flour bag to Rs 490

    Pakistan calls for united action to tackle challenge of food security

    Pakistan calls for united action to tackle challenge of food security

    Bilawal meets US counterpart, discusses bilateral ties

    Bilawal meets US counterpart, discusses bilateral ties

    Women suicide bombers being prepared, Balochistan govt reveals

    Women suicide bombers being prepared, Balochistan govt reveals

    PM desires further deepening of Pakistan-EU cooperative ties

    PM desires further deepening of Pakistan-EU cooperative ties

    Trending Tags

    • Donald Trump
    • Future of News
    • Climate Change
    • Market Stories
    • Election Results
    • Flat Earth
  • Tech
    • All
    • Apps
    • Gear
    • Mobile
    • Startup
    Minar-e-Pakistan incident: 66 people arrested through geo-fencing, face matching

    Minar-e-Pakistan incident: 66 people arrested through geo-fencing, face matching

    Google marks Pakistan’s Independence Day with Khojak Tunnel doodle

    Google marks Pakistan’s Independence Day with Khojak Tunnel doodle

    US elections: Facebook, Twitter introduce new measures to battle misinformation

    US elections: Facebook, Twitter introduce new measures to battle misinformation

    Trump order limits Chinese internet giants TikTok, WeChat from operating in US

    Trump order limits Chinese internet giants TikTok, WeChat from operating in US

    US ‘certainly looking at’ banning Chinese social media apps, including Tik Tok: Pompeo

    US ‘certainly looking at’ banning Chinese social media apps, including Tik Tok: Pompeo

    5G: Singapore telcos pick Nokia, Ericsson over Huawei

    5G: Singapore telcos pick Nokia, Ericsson over Huawei

    Twitter tests feature asking you to open article before retweeting

    Twitter tests feature asking you to open article before retweeting

    George Floyd protests: Google postpones Android 11 beta launch

    George Floyd protests: Google postpones Android 11 beta launch

    TikTok India responds to criticism over controversial video glorifying acid attacks

    TikTok India responds to criticism over controversial video glorifying acid attacks

    Facebook says it removed huge number of violent, hate-speech filled posts

    Facebook says it removed huge number of violent, hate-speech filled posts

    Trending Tags

    • Flat Earth
    • Sillicon Valley
    • Mr. Robot
    • MotoGP 2017
    • Golden Globes
    • Future of News
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Pak vs Aus: Usman Khawaja eyes 200, Australia 332-4 in Karachi Test

    Pak vs Aus: Australia wins toss, decides to bat first against Pakistan in final Test battle

    Pak vs Aus: Usman Khawaja eyes 200, Australia 332-4 in Karachi Test

    Pak vs Aus: T20I, ODI matches shifted from Rawalpindi to Lahore

    Pak vs Aus: PCB may move T20I, ODIs to Lahore as pressure mounts in capital

    Pak vs Aus: PCB may move T20I, ODIs to Lahore as pressure mounts in capital

    Pak vs Aus: Usman Khawaja eyes 200, Australia 332-4 in Karachi Test

    Pak vs Aus: Usman Khawaja eyes 200, Australia 332-4 in Karachi Test

    Cricket Australia’s Nick Hockley shows interest in hosting tri-series involving India, Pakistan

    India Women team crushes Pakistan in opening World Cup game

    India Women team crushes Pakistan in opening World Cup game

    Rawalpindi Test 2nd day: Confident Pakistan bat against Australia

    Rawalpindi Test 2nd day: Confident Pakistan bat against Australia

    Peshawar blast: Australia coach Andrew McDonald says team in ‘really, really good hands’

    Australia cricket legend Shane Warne dead aged 52

    Australia cricket legend Shane Warne dead aged 52

    Nation praying for Babar and team’s victory: Ch Fawad

    Nation praying for Babar and team’s victory: Ch Fawad

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Coronavirus positivity rate drops further in Pakistan

    Pakistan reports 76 coronavirus cases, no deaths in 24 hours

    Coronavirus kills 35 Pakistanis, infects 1,226 in one day

    Pakistan reports 238 coronavirus cases, no deaths in 24 hours

    Pakistan reports 723 coronavirus cases, 7 deaths in 24 hours

    Pakistan reports no deaths from coronavirus as fifth wave fades away

    Pakistan reports 723 coronavirus cases, 7 deaths in 24 hours

    Pakistan reports 186 coronavirus cases, one death in 24 hours

    Pakistan reports 723 coronavirus cases, 7 deaths in 24 hours

    Pakistan reports 310 coronavirus cases, 5 deaths in 24 hours

    Pakistan reports no new COVID-19 deaths for first time since start of pandemic

    Pakistan reports no new COVID-19 deaths for first time since start of pandemic

    China weighs exit from ‘zero COVID’ and the risks involved

    China weighs exit from ‘zero COVID’ and the risks involved

    Pakistan reports 514 coronavirus cases, 2 deaths in 24 hours

    Pakistan reports 514 coronavirus cases, 2 deaths in 24 hours

    Pakistan reports lowest coronavirus deaths in over two months

    Pakistan reports lowest coronavirus deaths in over two months

    Daily COVID-19 report: Pakistan logs lowest number of deaths since Jan 11

    Daily COVID-19 report: Pakistan logs lowest number of deaths since Jan 11

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Video
No Result
View All Result
Sindh News Online
No Result
View All Result
ADVERTISEMENT
Home News Business

IMF aims to complete second review of Pakistan’s credit facility deferred by COVID-19 soon

by admin
May 23, 2020
in Business, News
0
IMF aims to complete second review of Pakistan’s credit facility deferred by COVID-19 soon
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The International Monetary Fund (IMF) has started talks with Pakistan and hopes to complete its second review of the country’s extended fund facility programme that had been pushed back due to the outbreak of the COVID-19 pandemic last month, said IMF Communications Department Director Gerry Rice.

Rice said technical discussions continue with the Pakistani authorities on the extended fund facility (EFF). “This would be the second review,” Rice said in a statement. “We hope to bring it to a positive conclusion as soon as possible.”

Last year, the IMF agreed to lend Pakistan $6 billion under a three-year EFF to help the country fend off the balance of payment crisis with foreign reserves having plunged to the level sufficient only to cover less than two months of import bills.

Pakistan has already received two tranches under the loan program and the third one would follow the conclusion of the second review put on halt after the virus crisis. Rice said the extended fund facility, which was in place before the crisis hit, remains in effect. “Discussions were paused, due to the outbreak of the pandemic, and there was a focus on the rapid financing instrument, to help Pakistan combat COVID-19, and, again, that has been approved,” he added.

The fund approved $1.4 billion as a rapid finance instrument to boost Pakistan’s COVID-19 emergency response. The IMF official further said attaining creditworthiness, the ability and the willingness to repay their debts, constitutes a hard-fought success for many countries that have been developing successfully.

“A few developing countries have said, publicly, that they’re not inclined to take up the G20 debt suspension initiative, you know, partly, because of that reason,” said Rice. “What they want is a level playing field, in the form of stable access to finance on affordable terms, and, so, for this reason, the Fund’s priority is to ensure that these countries continue to have that access to appropriate external financing, as they go forward, and we try to contribute to that through our own lending and through initiatives, such as the G20 debt service suspension.”

The G20 group, last month, agreed to give a one-year moratorium on debts of poor economies, including Pakistan. Countries eligible for the program have a combined $36 billion falling due this year, composed of $13 billion owed to other governments, $9 billion to private creditors and the rest to multilateral development lenders.

Pakistan is expecting a freeze on loan repayments of $1.8 billion, less than two percent of its total foreign debts. Since private creditors also agreed to suspend debt payments, ratings agencies warned that the moratorium would be considered a default and hence have downgrade risks. The Pakistani government vowed not to pursue suspension in credit to commercial lenders while approving a request to avail the G20 debt relief.

“We will support our member countries, even whose debts are unsustainable in fighting for appropriate debt relief, and, again, whilst a few countries have indicated that they would not be participating in the initiative, the vast majority have either expressed a formal request to participate, or expressed interest, and we expect many more official requests in the coming days,” said Rice. “Importantly, debt relief to countries whose debts are unsustainable should encompass not only official bilateral debt, but also debt to the private sector.”

Tags: COVIDdeferredIMF
Share197Tweet123Share49
admin

admin

LIVE: Sindh News Online SN TV

  • Trending
  • Comments
  • Latest
PIA plane crash: Punjab CM meets family of martyred pilot

PIA plane crash: Punjab CM meets family of martyred pilot

May 24, 2020
PIA plane crash: Investigation team finds engine scratch marks on runway

PIA plane crash: Investigation team finds engine scratch marks on runway

May 24, 2020
Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

November 11, 2020

Lady Gaga Pulled Off One of the Best Halftime Shows Ever

0

Barack Obama’s Now Mainly Focusing on Wearing This Casual Backwards Hat

0

Watch Justin Timberlake’s ‘Cry Me a River’ Come to Life in Mesmerizing Dance

0
All eyes on SC’s historic hearing on suo motu notice: Fawad

All eyes on SC’s historic hearing on suo motu notice: Fawad

May 19, 2022
Omar Cheema moves IHC against his removal as Governor Punjab

Omar Cheema moves IHC against his removal as Governor Punjab

May 19, 2022
SC bars govt from transferring officers investigating high-profile cases

SC bars govt from transferring officers investigating high-profile cases

May 19, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Whatsapp: 0337 0359958

© 2020 Sindh News Online. Ali Zafar Awan (CEO) 0317 4282208, Director News: Sadar ud din Jokhio. Web Development Company Cyber Design

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

© 2020 Sindh News Online. Ali Zafar Awan (CEO) 0317 4282208, Director News: Sadar ud din Jokhio. Web Development Company Cyber Design

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In