Page 38 - Imf Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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, according to JPMorgan data. But the boost in the bonds belies the difficulties both nations face impleme...

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...