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IMF links revival of Pakistan’s stalled loan programme with completion of all conditions in three weeks

09:08 AM | 24 Dec, 2022
IMF links revival of Pakistan’s stalled loan programme with completion of all conditions in three weeks
Source: File Photo

ISLAMABAD – International Monetary Fund has linked the revival of stalled loan programme of cash strapped country with the completion of all prerequisites in three weeks.

Reports in local media said the global lender told Islamabad to take essential actions within three weeks for the revival of staff-level agreement and release $1 billion tranche under the Extended Fund Facility (EFF).

After getting new directives, the country’s finance chief Ishaq Dar will hold a meeting with his economic team to chalk out a strategy to pave the way for the revival of the much need programme.

The new prerequisite tabled by the global lender includes additional taxation measures and pursuing structural reforms in the remaining period of the Fund program, per reports.

The two sides had engaged in several talks but could not finalise the ninth review of loan programme amid a lack of clarity on flood-related financial requirements.

Amid the uncertainty and delay in the IMF programme, the ongoing financial crisis is almost unprecedented in its nature. 

Daily Pakistan Global Web Desk

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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