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Cash-strapped Sri Lanka will vote for its next president on Saturday in an effective referendum on an unpopular International Monetary Fund (IMF) austerity plan enacted after the island nation’s unprecedented financial crisis. President Ranil Wickremesinghe urged voters to give him a fresh mandate to continue with austerity measures he says stabilised the economy and ended…
The International Monetary Fund (IMF) on Thursday confirmed that the Fund’s board will meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) to Pakistan. Pakistan expected to secure a deal with the Fund in August after the lender approved the 37-month programme agreed upon in July. The country also raised its…
The International Monetary Fund (IMF) has released its Executive Board meeting calendar until September 18, but the approval of Pakistan’s $7 billion loan program is notably absent. Despite continuous efforts, Pakistan is struggling to bridge its external financing gap, which is estimated to be between $3 to $5 billion, according to media reports. The IMF Executive…
The federal government has submitted a comprehensive plan to the International Monetary Fund (IMF) aimed at reducing electricity prices by Rs6 per unit. This proposal is part of the government’s ongoing efforts to provide relief to consumers burdened by high electricity costs. According to sources within the Power Division, the plan involves the federal and…
