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IMF, World Bank assure support as Pakistan reels from devastating floods

Ishaq Dar leads the delegation at annual talks in US

07:06 PM | 14 Oct, 2022
IMF, World Bank assure support as Pakistan reels from devastating floods
Source: PID

WASHINGTON – Senior officials of the International Monetary Fund (IMF) and World Bank Friday assured Pakistan of continued support in overcoming its social-economic challenges due to devastating floods.

IMF Deputy Managing Director Antoinette Sayeh and World Bank President David Malpass assured of their support in meeting with Pakistani Finance Minister Ishaq Dar in Washington,

Dar is currently in the US where he leads the Pakistani delegation at annual meetings of IMF and the World Bank.

Catastrophic floods triggered by abnormal monsoon rains have sunk the one third Pakistan under water, killing over 1,700 people, displacing thousands of people. The deluges have overall affected over 33 million people across the South Asian country since mid-June.

Ishaq Dar held separate meetings with the IMF deputy managing director and the WB president.

In meeting with IMF official, the minister apprised her of the damages caused by the unprecedented floods in Pakistan. He shared the Pakistani government’s vision for stabilizing the economy and carrying out sustainable and resilient recovery.

“DMD IMF appreciated the government’s policies and assured of IMF’s continued support to Pakistan,” the PID press release read.

The minister in his meeting with Mr. David Malpass thanked the Bank for its continued support in the socio economic development of Pakistan. He thanked the World Bank for its assistance for rescue and relief operations in the aftermath of the unprecedented devastating floods.

“President Malpass assured that the Bank would continue to work with GoP to help Pakistan overcome its socio-economic challenges due to the floods,” the press release stated.

Dar also held a separate meeting today with Mr. Martin Raiser, Vice President SAR, World Bank  and thanked him for undertaking a visit to Pakistan to see first hand the devastation caused by the floods.

The visit helped in projecting the tremendous damages caused by the devastating floods. The Vice President assured that the Bank would continue to support Pakistan in overcoming the economic difficulties that the country was facing. 

Daily Pakistan Global Web Desk

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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