IMF bailout proved important to save Pakistan from default, PM Sharif says

April 30, 2024 12:08 PM

IMF bailout proved important to save Pakistan from default, PM Sharif says

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default. "The disbursement will bring more economic stability in Pakistan," Sharif said in a statement from his office, a...

Global Leaders Gather in Riyadh for World Economic Forum Summit

April 28, 2024 2:46 PM

Global Leaders Gather in Riyadh for World Economic Forum Summit

Final preparations took place at the Ritz-Carlton in Riyadh ahead of the World Economic Forum (WEF) summit starting Sunday (April 28), where world leaders will convene for a special meeting on global collaboration, growth and energy for development.   Over 1,000 leaders from around the world are attending the two-day event to discuss topics that will include "urgent challenges" in the geopolitical and economic environment, including ongoing geopolitical tensions in the Middle East, according ...