Sign in Subscribe
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
  • Featured
  • Opinion
    • Comment
    • Editorial
  • Tech
    • Artificial Intelligence
  • World
  • Satire
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
Sign inSubscribe
Profit Profit by Pakistan Today
Profit Profit
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
    • Headlines

      Pakistan, Iran pledge to triple trade to $10bn amid calls for…

      Headlines

      PSB creates contributory pension fund to ease future liabilities

      Headlines

      Finance Ministry seeks audit of TCP loans amid high markup concerns

      Headlines

      Pakistan, Iran vow to boost trade ties and border cooperation

      Headlines

      Pakistan, China reaffirm industrial focus in CPEC Phase II talks

  • Featured
    • Editor’s picks

      Rating agencies back Pakistan’s recovery story ahead of international debt push

      Agriculture

      What is happening to KP’s tobacco farmers?

      Editor’s picks

      Much ado about Matcha

      Cover story

      The stalled arrival of working women in Pakistan

      Editor’s picks

      First Dawood completes first building

  • Opinion
    • AllCommentEditorial
      Comment

      Crypto exchanges need to earn Pakistan’s trust with on‑chain protection

      Comment

      Efficiency in manufacturing has to be achieved through cost management

      Comment

      Unlocking Pakistan’s digital potential: why a smarter approach to 5G is…

      Comment

      Pakistan’s tech sector: From outsourcing hub to global innovation partner

  • Tech
    • AllArtificial Intelligence
      Artificial Intelligence

      Senate panel criticizes IT ministry for selective collaboration on Pakistan’s first…

      Automobile

      Tesla signs $4.3 billion battery deal with LGES, reducing China reliance

      Artificial Intelligence

      Italy investigates Meta over WhatsApp AI integration

      Tech

      Google to sign EU’s voluntary AI code of practice

  • World
  • Satire

$10-12 billion financing gap being faced by Pakistan, says IMF

IMF team has projected that pressures of twin deficit would continue for Pakistan in FY19, as it assessed budget deficit may cross 6 percent of Gross Domestic Product (GDP) against an official estimated target of 5.1 percent of GDP

By
Monitoring Desk
-
October 4, 2018
0
296
Facebook
Twitter
Linkedin
WhatsApp
Email

    ISLAMABAD: The visiting IMF delegation has determined Pakistan faces a financing gap of $10-12 billion for FY19 after accounting for all projections of dollar inflows.

    And the IMF has projected that the rising budget and current account deficit would continue to cast a shadow over the country’s economy in the short-to-medium term, reports The News.

    The forthcoming annual meeting of the World Bank/IMF scheduled to be held in Bali, Indonesia from October 8th to 14th, 2018 will be attended by the finance minister Asad Umar, who confirmed it on Wednesday night.

    According to sources, the government hasn’t taken any formal decision to approach the IMF, however, there are strong signals that it would need to take the crucial decision within this month.

    The sources quoting the IMF team during the final phases of the ongoing talks said, “Without taking remedial measures on internal and external fronts, Pakistan’s economy will see severe difficulties whereby the GDP growth will be slowed down, and the inflationary pressures will rise.”

    The IMF delegation and Pakistan government talks entered the final stages on Wednesday, whereby the determination of number crunching on the macroeconomic front will be carried out.

    After carrying out its own assessment, the IMF delegation will share an initial staff report with the Pakistani authorities.

    Moreover, the IMF team has projected that pressures of twin deficit would continue for Pakistan in FY19, as it assessed budget deficit may cross 6 percent of Gross Domestic Product (GDP) against an official estimated target of 5.1 percent of GDP.

    An official shared the IMF delegation had determined the government had over-projected the revenue collection and underestimated the expenditure side, which could cause the budget deficit to cross the 6 percent for FY19.

    • TAGS
    • budget deficit
    • current account deficit
    • Financing Gap
    • IMF bailout
    • International Monetary Fund (IMF)
    • Pakistan's economy
    • Pakistan's external sector vulnerabilities
    Facebook
    Twitter
    Linkedin
    WhatsApp
    Email
      Monitoring Desk
      Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

      RELATED ARTICLESMORE FROM AUTHOR

      Headlines

      IMF approves final $1.1bn tranche for Pakistan

      Economy

      IMF maintains Pakistan’s economic growth forecast at 2% for FY24

      Headlines

      Govt to borrow Rs3.88tr from banks in Q1 2024 to address budget deficit

      Whatsapp Newsletter
      Email Newsletter News Tips
      Profit by Pakistan Today
      Publishing Editor: Babar Nizami -- Editor Multimedia: Umar Aziz Khan -- Senior Editor: Abdullah Niazi -- Editorial Consultant: Ahtasam Ahmad -- Business Reporters: Taimoor Hassan | Shahab Omer l Zain Naeem | Shahnawaz Ali | Ghulam Abbass | Ahmad Ahmadani | Aziz Buneri -- Sub-Editor: Saddam Hussain -- Video Producer: Talha Farooqi -- Director Marketing : Mudassir Alam | Regional Heads of Marketing: Agha Anwer (Khi) | Kamal Rizvi (Lhe) | Malik Israr (Isb ) -- Manager Subscriptions: Irfan Farooq -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
      Contact us: [email protected]
      • Privacy policy
      Copyright © 2025. Pakistan Today. All Rights Reserved.