{"id":402448,"date":"2024-04-25T09:01:11","date_gmt":"2024-04-25T04:01:11","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=402448"},"modified":"2024-04-25T15:12:32","modified_gmt":"2024-04-25T10:12:32","slug":"imf-board-to-discuss-approval-of-1-1b-funding-for-pakistan-on-april-29","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/imf-board-to-discuss-approval-of-1-1b-funding-for-pakistan-on-april-29\/","title":{"rendered":"IMF board to discuss \u2018approval of $1.1b funding for Pakistan on April 29\u2019"},"content":{"rendered":"<p>Funding is the second and last tranche of a $3 billion SBA with Washington-based lender<br \/>\nislamabad<br \/>\nThe executive board of the International Monetary Fund will meet on April 29 to discuss the approval of $1.1 billion funding for Pakistan, the fund said on Wednesday.<br \/>\nThe funding is the second and last tranche of a $3 billion Stand-By Arrangement (SBA) with the IMF, which it secured last summer to avert a sovereign default and which runs out this month.<br \/>\nThe South Asian nation is seeking a new long-term, larger IMF loan. Pakistan\u2019s Finance Minister, Muhammad Aurangzeb, has said Islamabad could secure a staff-level agreement on the new program by early July.<br \/>\nIslamabad says it is seeking a loan over at least three years to help macroeconomic stability and execute a long-due and painful structural reforms, though Aurangzeb has declined to detail what seize of programme the country seeks.<br \/>\nIslamabad is yet to make a formal request, but the Fund and the government are already in discussions.<br \/>\nIf secured, it would be the 24th IMF bailout for Pakistan.<br \/>\nThe $350 billion economy faces a chronic balance of payment crisis, with nearly $24 billion to repay in debt and interest over the next fiscal year\u2013three-time more than its central bank\u2019s foreign currency reserves.<br \/>\nPakistan\u2019s finance ministry expect the economy to grow by 2.6% in the current fiscal year ending June, while average inflation is projected to stand at 24%, down from 29.2% in fiscal year 2023\/2024.<br \/>\nInflation soared to a record high of 38% last May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Funding is the second and last tranche of a $3 billion SBA with Washington-based lender islamabad The executive board of the International Monetary Fund will meet on April 29 to discuss the approval of $1.1 billion funding for Pakistan, the fund said on Wednesday. The funding is the second and last tranche of a $3 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":402469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-402448","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF board to discuss \u2018approval of $1.1b funding for Pakistan on April 29\u2019<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/imf-board-to-discuss-approval-of-1-1b-funding-for-pakistan-on-april-29\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF board to discuss \u2018approval of $1.1b funding for Pakistan on April 29\u2019\" \/>\n<meta property=\"og:description\" content=\"Funding is the second and last tranche of a $3 billion SBA with Washington-based lender islamabad The executive board of the International Monetary Fund will meet on April 29 to discuss the approval of $1.1 billion funding for Pakistan, the fund said on Wednesday. The funding is the second and last tranche of a $3 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/imf-board-to-discuss-approval-of-1-1b-funding-for-pakistan-on-april-29\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-25T04:01:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-25T10:12:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2024\/04\/imf.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1231\" \/>\n\t<meta property=\"og:image:height\" content=\"660\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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