12.9 C
Athens
Τετάρτη, 6 Νοεμβρίου, 2024

IMF holds back funds as Pakistan has failed to crack down on corruption

Περισσότερα Νέα

- Advertisement -

The International Monetary Fund (IMF) has asked Pakistan to strengthen its anti-corruption mechanism if it wants an economic relief package.

Although the erstwhile Imran Khan government had agreed it would take action to reduce corruption, the UMF has reminded Islamabad that no action has been taken to comply with the condition.

The Structural Benchmark (SB) which was agreed upon by Pakistan Tehreek-e-Insaf (PTI) was not fulfilled.

In order to strike a staff-level agreement with the  International Monetary Fund on the completion of the sixth review now the challenge lies with Prime Minister Shehbaz Sharif-led party, reported Geo TV.

Pakistan and the International Monetary Fund (IMF) for the 7th review under the USD 6 billion Extended Fund Facility (EFF) programme will be delayed as they do not reach any staff-level agreement.

- Advertisement -

An IMF spokesperson while speaking on the seventh and eighth review under the EFF program said, “Discussion with the Pakistani authorities on the review continues and we do not comment on specific elements under discussion.”

“In general, strengthening governance and transparency has been a key goal under Pakistan’s EFF supported the program as these ultimately support robust inclusive growth,” the spokesperson said, as per the media outlet.

Pakistan is under a heavy financial crunch and has secured a deal with the International Monetary Fund (IMF) to restore the stalled USD 6 billion package, however, the road ahead is not easy to get two combined tranches of about USD 1.85 billion from the IMF by the end of July or early August.

Pakistani Finance Minister Miftah Ismail earlier on Tuesday announced that Pakistan had received the Memorandum of Economic and Fiscal Policies (MEFP) from the IMF for the combined seventh and eighth reviews.

Under the MEFP shared with the government, the 39-month EFF will be extended by one year to September 2023.

The MEFP is based on budgetary measures announced by Ismail in his winding-up speech on the revised budget in the National Assembly last week, envisaging over Rs 1.716 trillion (2.2 pc of GDP) of fiscal adjustment, mostly through taxation, including a 10 pc super tax on 13 industries and personal income tax covering monthly incomes above Rs 50,000 per month.

- Advertisement -

ΑΠΑΝΤΗΣΤΕ

εισάγετε το σχόλιό σας!
παρακαλώ εισάγετε το όνομά σας εδώ

The reCAPTCHA verification period has expired. Please reload the page.

Ροή ειδήσεων

ΣΧΕΤΙΚΑ ΑΡΘΡΑ

Pakistan is third worst nation globally in terms of law and order: World Justice Project index

In the latest World Justice Project (WJP) Rule of Law Index for 2024, Pakistan has been ranked 140th out of 142 countries, making it...

EU raises concern over Chinese aggression in Taiwan

The European Commission in a report raised concern over China's aggression against Taiwan and suggested that the EU step up exchanges with Taipei, Taipei...

Taiwan detects 6 Chinese military aircraft, 9 vessels around territory

Taiwan's Ministry of National Defence (MND) reported Chinese military activity near the island on Tuesday and said that by 6 am (local time), six...

China Tries to Blot out Tibetan Criticism of Mining Firm’s Damage to the Environment 

Chinese censors are trying to prevent people from viewing posts that allege severe environmental damage in Tibet caused by sand mining. A young Tibetan man...

ΔΗΜΟΦΙΛΗ ΑΡΘΡΑ

Αμερικανικές εκλογές ΗΠΑ: Αγοραστική τρέλα για κρυπονομίσματα λόγω Τραμπ – Iστορικά υψηλά το bitcoin-Ο Ντόναλντ Τραμπ εξασφάλισε την Τζόρτζια

Το bitcoin εκτινάχθηκε σε υψηλό ρεκόρ όλων των εποχών στα 75.060 δολάρια, καθώς οι επενδυτές κρυπτονομισμάτων στοιχηματίζουν ότι ο Ντόναλντ Τραμπ θα είναι ο νικητής...

Σταθερό το προβάδισμα του Τραμπ στην Πενσιλβάνια-Νίκη της Κάμαλα Χάρις στη Χαβάη

Στο 87% των καταμετρημένων ψήφων στην κρίσιμη πολιτεία της Πενσιλβάνια, ο Τραμπ προηγείται με 50,8% έναντι 48,1% της Χάρις. Νίκη της Κάμαλα Χάρις στη Χαβάη Σύμφωνα...

Οι νέοι ψηφοφόροι δείχνουν μικρή αλλά σημαντική στροφή προς Τραμπ

Τα προκαταρκτικά ευρήματα του AP VoteCast παραπέμπουν σε ορισμένες μετατοπίσεις μεταξύ δημογραφικών ομάδων που θα μπορούσαν να έχουν σημασία, μεταξύ άλλων των νεότερων ψηφοφόρων. Οι...

Αποτελέσματα Αμερικανικών εκλογών στις 7 swing states-Κάρτα

H εικόνα στις 7 swing states λίγο μετά τις 7 το πρωί της Τετάρτης (6/11):