Results for: International Monetary Fund

Pakistan’s economy experienced a resurgence in the third quarter of the 2023-2024 financial year, with the gross domestic product (GDP) expanding by 2.09%. This growth is primarily attributed to a strong performance in the agriculture sector, aiding overall economic recovery. The agriculture sector recorded an impressive 6.25% growth, driven by bumper harvests in wheat, cotton, and rice. The robust agricultural performance offset slower growth in the industry and services sectors, both of which registered a modest 1.21% increase. Pakistan’s central bank has projected a real GDP growth of 2-3% for the current fiscal year 2024, indicating a positive economic outlook.

After an initial $10 billion aid plan, Brazil is seeking further financial assistance from international organizations to recover from the catastrophic floods in Rio Grande do Sul. The government is in discussions with the International Monetary Fund and the World Bank to secure funding for the reconstruction of the affected southern state. Meanwhile, the finance ministry prioritizes supporting the affected population while maintaining fiscal responsibility and exploring sustainable debt sales amidst challenging market conditions.

Pakistan’s Prime Minister Shehbaz Sharif has announced plans to privatize all state-owned enterprises, including the struggling Pakistan International Airlines (PIA), as part of efforts to tackle the country’s financial challenges. This move expands the government’s previous intention to privatize only loss-making enterprises. The decision comes amid Pakistan’s negotiations with the International Monetary Fund (IMF) for a new loan agreement.

Pakistan hopes to reach a staff-level agreement with the International Monetary Fund (IMF) by June or early July, Finance Minister Muhammad Aurangzeb said. The current $3 billion agreement expires in late April, and Pakistan seeks a larger loan to support macroeconomic stability and structural reforms.