{"id":63862,"date":"2020-04-09T16:28:22","date_gmt":"2020-04-09T11:28:22","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63862"},"modified":"2020-04-09T16:28:23","modified_gmt":"2020-04-09T11:28:23","slug":"imf-to-give-usd1-4-bn-to-pakistan-to-fight-covid-19-crise","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/imf-to-give-usd1-4-bn-to-pakistan-to-fight-covid-19-crise.html","title":{"rendered":"COVID-19 Relief: IMF to give Pakistan USD 1.4 bn to deal with economic turmoil"},"content":{"rendered":"\n<p>Islamabad: The International Monetary Fund (IMF) has announced its decision of releasing USD 1.4 billion \u2013 under its Rapid Financing Instrument (RFI) arrangements \u2013 to Pakistan next week in a bid to ease the economic turmoil expected within the country in the wake of the lockdown imposed to contain the coronavirus pandemic, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/wbg-imf-seek-postponement-debt-repayments-developing-countries.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"WBG, IMF seek postponement on debt repayments by developing countries (opens in a new tab)\">WBG, IMF seek postponement on debt repayments by developing countries<\/a><\/p>\n\n\n\n<p>As per reports, Pakistan officially placed the request for issuance of the loan under RFI earlier in March. IMF Resident Representative in Pakistan Teresa Daban Sanchez said that their team has been effectively working to respond to the request as soon as possible. Reportedly, the amount is in addition to USD 6 billion Pakistan will get in terms of IMF\u2019s bailout package deal signed last year. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/construction-industry-package-approved-after-consultations-imf-umar.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Construction industry package approved after consultations with IMF: Umar (opens in a new tab)\">Construction industry package approved after consultations with IMF: Umar<\/a><\/p>\n\n\n\n<p>Advisor to Prime Minister on Finance Abdul Hafeez Shaikh said that the requested amount is a \u2018fast disbursing, low cost loan\u2019. \u201cWe would like to secure funds before the losses are evaluated,\u201d he said and added that Pakistan wants IMF to consider the loan request separately. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-allows-tax-concessions-businesses-affected-coronavirus-pandemic.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"IMF allows tax concessions to businesses affected by coronavirus pandemic (opens in a new tab)\">IMF allows tax concessions to businesses affected by coronavirus pandemic<\/a><\/p>\n\n\n\n<p>Earlier in March, the State Bank of Pakistan reduced the\ninterest rates by 150 basis points to 11%. Furthermore, the government also\nannounced a relief package to support the daily wagers hard-hit by the COVID-19\npandemic. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The International Monetary Fund (IMF) has announced its decision of releasing USD 1.4 billion \u2013 under its Rapid Financing Instrument (RFI) arrangements \u2013 to Pakistan next week in a bid to ease the economic turmoil expected within the country in the wake of the lockdown imposed to contain the coronavirus pandemic, a news source reported. Read: WBG, IMF seek postponement on debt repayments by developing countries As per reports, Pakistan officially placed the request for issuance of the loan under RFI earlier in March. IMF Resident Representative in Pakistan Teresa Daban Sanchez said that their team has been effectively working to respond to the request as soon as possible. Reportedly, the amount is in addition to USD 6 billion Pakistan will get in terms of IMF\u2019s bailout package deal signed last year. Read: Construction industry package approved after consultations with IMF: Umar Advisor to Prime Minister on Finance Abdul Hafeez Shaikh said that the requested amount is a \u2018fast disbursing, low cost loan\u2019. \u201cWe would like to secure funds before the losses are evaluated,\u201d he said and added that Pakistan wants IMF to consider the loan request separately. Read: IMF allows tax concessions to businesses affected by coronavirus pandemic&hellip;<\/p>\n","protected":false},"author":18,"featured_media":61048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[25738,25737],"persona":[],"class_list":{"0":"post-63862","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-imf-covid-19-funds-for-pakistan","8":"tag-imf-funds-for-pakistan-to-deal-with-covid-19"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF to give USD1.4 bn to Pakistan to fight Covid-19 crises - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The International Monetary Fund (IMF) has announced releasing USD 1.4 billion \u2013 under its Rapid Financing Instrument (RFI) arrangements \u2013 to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/imf-to-give-usd1-4-bn-to-pakistan-to-fight-covid-19-crise.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF to give USD1.4 bn to Pakistan to fight Covid-19 crises - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The International Monetary Fund (IMF) has announced releasing USD 1.4 billion \u2013 under its Rapid Financing Instrument (RFI) arrangements \u2013 to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/imf-to-give-usd1-4-bn-to-pakistan-to-fight-covid-19-crise.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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