The World Bank signed an agreement with Government of Pakistan on a new project called “Pandemic Response Effectiveness in Pakistan”. The primary objective of this project is to support the GOP to prepare and respond to the COVID-19 pandemic in Pakistan and strengthen national public health preparedness. The scope of this project will be nationwide, … Read More “World Bank will provide USD 200 million to Pakistan to combat COVID-19” »
Measures taken by Government of Pakistan to contain the economic impact of COVID-19 Pandemic.
The Executive Board of the International Monetary Fund (IMF) on April 16, 2020 approved an amount of SDR 1.015 billion (USD 1.386 billion) for Pakistan. The request was made by Pakistan under the Rapid Financing Instrument (RFI) lending facility for grant of 50 percent of quota, entitled under the IMF`s COVID response measures. The quota … Read More “IMF approves USD 1.4 billion financial assistance to Pakistan” »
The Rapid Financing Instrument (RFI) is a lending facility of the International Monetary Fund (IMF) under which the IMF provides rapid financial assistance to its member countries facing an urgent balance of payments need. This facility is available to all members unlike the Catastrophe Containment (CC) window of the Catastrophe Containment and Relief Trust (CCRT) … Read More “What is IMF`s Rapid Financing Instrument (RFI)” »
The IMF Executive Board on April 13, 2020, approved immediate debt service relief to 25 of the IMF’s member countries. The debt relief is approved under the Catastrophe Containment (CC) window of the IMF`s Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic. … Read More “IMF Executive Board Approves Immediate Debt Relief for 25 Low Income Countries” »
In a statement issued by State Bank of Pakistan, it stated that under the SBP relief package announced in wake of coronavirus disease (COVID-19), 80368 borrowers benefited from deferment of principal repayment amounting to Rs. 20 billion, up till April 10, 2020. Further, advances amounting to Rs. 1.4 billion have been restructured. Moreover, 5126 application … Read More “Significant number of borrowers avail SBP`s relief package of principal deferment facility” »
