Page 19 - Imf Program News Today

Argentina's government said on Thursday that major creditor the International Monetary Fund (IMF) had originally wanted a "100%" devaluation of the country's embattled peso currency, before the two sides agreed to a correction of 18% made earlier this week. The comments, made by a government spokeswoman after similar ones by Economy Minister Sergio Massa, underscore rising pressure on the peso, which was devalued and pegged at 350 per dollar on Monday, though trades nearer 8...

Local currency sees depreciation of over 1% on Tuesday as caretaker govt takes over affairs of the country

The weaknesses in remittances have been visible over the last year or so the foreign inflows remain tepid and...

Currency hovers at 290-291 level in interbank market

AHL says KSE-100 could power past 56,000 level by June 2024

Investors have piled back into bonds in Pakistan and Argentina following cash infusions and optimism over multilateral support, but the two nations have secured only enough help to limp to autumn elections, experts said. The rally in international bonds issued by the two countries has intensified over the past two weeks, seeing returns on Pakistan's bonds soar to above 45% and Argentina's close in on 30% year-to-date, making them some of the best performers in their asset class, accor...

The Fund is set to discuss a nine-month stand-by arrangement for Pakistan as the previous Extended Fund Facility expired on June 30

Government raises PDL to Rs55 per litre to fulfil key condition of IMF

* Dar presents Rs14.5trn budget * Budget closely watched by IMF * 3.5% economic growth target set * Fiscal deficit target set at 6.54% of GDP * Govt targets inflation at 21% * Total spending target of 14.46 trillion rupees set * Defence expenditure estimated at 1.8 trillion rupees * Targets total tax revenue of 9.2 trillion rupees * Targets total non-tax revenue of 3 trillion rupees * $30 billion export target set * No new tax on industrial sector

It’s a typical Dar budget with some populistic flavor. Penalize anyone who makes money legally and wants to grow...