{"id":87390,"date":"2022-07-20T12:01:34","date_gmt":"2022-07-20T07:01:34","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=87390"},"modified":"2022-07-20T12:01:39","modified_gmt":"2022-07-20T07:01:39","slug":"moodys-pakistan-imf-credit-positive","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/moodys-pakistan-imf-credit-positive.html","title":{"rendered":"Moody\u2019s terms Pakistan-IMF staff-level agreement \u2018Credit Positive"},"content":{"rendered":"\n

Islamabad: International credit rating agency \u2018Moody\u2019s\u2019 on Tuesday (July 19) termed the staff-level agreement between Pakistan and the International Monetary Fund (IMF) as \u2018Credit Positive\u2019, news sources reported. Pakistan is due to get USD 1.7 billion of the total USD 7 billion under the Extended Fund Facility (EFF).<\/p>\n\n\n\n

Read:<\/strong>\u00a0IMF to expand EFF loan facility to USD 8 billion<\/a><\/p>\n\n\n\n

The agency further clarified that the agreement will increase the chances of Pakistan gaining access to the 7th and 8th trenches, totalling USD 1.7 billion,<\/a> which is expected to be extended till June 2023.\u00a0 As the country’s foreign exchange reserves are under great strain, the loan is critical for Pakistan to stay afloat and prevent a credit crisis. Moody’s further stated that the IMF’s disbursement of 720 million Special Drawing Rights (SDR)<\/a> will pave the way for loans from other financial institutions such as the World Bank (WB), Asian Development Bank (ADB), and friendly countries.<\/p>\n\n\n\n

Read:<\/strong> Govt, IMF reach staff-level agreement for revival of Extended Fund Facility<\/a>\u00a0\u00a0<\/p>\n\n\n\n

It should be noted that Pakistan inked a financial credit deal with the IMF in 2018 to grant a USD 6 billion credit in several trenches. However, as international conditions have changed, the country’s foreign reserves have decreased further. To lower the current account deficit (CAD), the government has also banned the import of luxury items. However, the gap hit its peak in June.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: International credit rating agency \u2018Moody\u2019s\u2019 on Tuesday (July 19) termed the staff-level agreement between Pakistan and the International Monetary Fund (IMF) as \u2018Credit Positive\u2019, news sources reported. Pakistan is due to get USD 1.7 billion of the total USD 7 billion under the Extended Fund Facility (EFF). Read:\u00a0IMF to expand EFF loan facility to USD 8 billion The agency further clarified that the agreement will increase the chances of Pakistan gaining access to the 7th and 8th trenches, totalling USD 1.7 billion, which is expected to be extended till June 2023.\u00a0 As the country’s foreign exchange reserves are under great strain, the loan is critical for Pakistan to stay afloat and prevent a credit crisis. Moody’s further stated that the IMF’s disbursement of 720 million Special Drawing Rights (SDR) will pave the way for loans from other financial institutions such as the World Bank (WB), Asian Development Bank (ADB), and friendly countries. Read: Govt, IMF reach staff-level agreement for revival of Extended Fund Facility\u00a0\u00a0 It should be noted that Pakistan inked a financial credit deal with the IMF in 2018 to grant a USD 6 billion credit in several trenches. However, as international conditions have changed, the country’s foreign…<\/p>\n","protected":false},"author":84,"featured_media":61098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[53221,53222,53223],"persona":[],"class_list":{"0":"post-87390","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-moodys-terms-pakistan-imf-staff-level-agreement-credit-positive","9":"tag-moodys-pakistan-rating","10":"tag-pakistan-moodys-rating","11":"cat-15017-id"},"acf":[],"yoast_head":"\nMoody\u2019s terms Pak-IMF agreement \u2018Credit Positive'- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: International credit rating agency \u2018Moody\u2019s\u2019 on Tuesday (July 19) termed the staff-level agreement between Pakistan and the International\" \/>\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\/moodys-pakistan-imf-credit-positive.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s terms Pak-IMF agreement \u2018Credit Positive'- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: International credit rating agency \u2018Moody\u2019s\u2019 on Tuesday (July 19) termed the staff-level agreement between Pakistan and the International\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/moodys-pakistan-imf-credit-positive.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News & Pakistan Property News & Latest Updates - 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