Pakistan is set to receive a $700 million boost from the International Monetary Fund for economic revival. The IMF has reached a staff-level agreement with Pakistani authorities, subject to approval by the IMF's Executive Board.

Pakistan set to receive $700 million boost from IMF for economic revival

A top international monetary fund official has given a thumbs up to India's economic growth story. Krishna Srinivasan, director of the Asia and Pacific department at the IMF, said India's macroeconomic environment is pretty sound. But he also added that India needs to do further structural reforms to exploit its ‘significant’ potential for higher growth.

IMF urges more reforms in India

<p>The International Monetary Fund (IMF) on Thursday (September 21) approved a $300 million loan agreement for Burkina Faso to combat poverty and bolster the economy.&nbsp;</p>

<p>The IMF executive board has granted a&nbsp;four-year loan agreement worth around $302 million under its&nbsp;Extended Credit Facility (ECF) to the West African nation. The first tranche of $31.8 million in aid will be disbursed immediately, the global monetary body said.&nbsp;</p>

<p>IMF said the credit line will help "create fiscal space for priority spending, strengthen resilience to shocks while reducing poverty, and bolster fiscal discipline, transparency and governance".&nbsp;</p>

<p>"It will also help close financing gaps reflecting tight financial conditions, large fiscal deficits, debt vulnerabilities, food insecurity, and fragile security conditions," said the IMF.&nbsp;</p>

<p>IMF Deputy Managing Director Kenji Okamura, commenting on the 48-month-long loan&nbsp;agreement, said the priority lay in changing the challenging&nbsp;macroeconomic outlook of the country.&nbsp;</p>

<p>“For the country’s long-term development process, it remains essential to sustain structural reforms to foster economic growth and diversification as well as to reduce poverty. In this context, further efforts to improve the business environment, reinforce governance and anti-corruption efforts, and address the security crisis are critical," said&nbsp;Okamura.&nbsp;</p>

<p><a href="https://www.wionews.com/world/burkina-faso-at-least-51killed-in-attacks-by-jihadist-groups-564113" target="_blank"><strong>Also read | Burkina Faso: At least 51 killed in attacks by jihadist groups</strong></a></p>

<h2><strong>Jihadist war-torn country of Burkina Faso</strong></h2>

<p>Being one of the poorest countries, Burkina Faso is undergoing a violent cycle after witnessing two coups last year. It is battling jihadist insurgency which spilt over eight years ago in 2015 from the neighbouring country of Mali, which is also incidentally run by the military.&nbsp;</p>

<p>The region is bustling with Islamist groups linked to deadly terror outfits al Qaeda and Islamic State.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/troops-film-boys-killings-in-burkina-faso-579159"><strong>WATCH |&nbsp;Troops film boys' killings in Burkina Faso</strong></a></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/troops-film-boys-killings-in-burkina-faso-579159/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>According to&nbsp;the IMF, over 40 per cent of Burkina Faso's population currently lives in poverty while the UN refugee agency states that&nbsp;two million people have been displaced, with no end to the jihadist violence in sight. Additionally, the violence has led to the death of over 16,000 people.&nbsp;</p>

<p>"Growing insecurity and conflict means vulnerability is increasing in the region, and it is getting harder to help communities in isolated areas," said UNICEF Regional Director for West and Central Africa, Marie-Pierre Poirier.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


The International Monetary Fund (IMF) on Thursday (September 21) approved a $300 million loan agreement for Burkina Faso to combat poverty and bolster the economy.

The International Monetary Fund (IMF) on Thursday (September 21) approved a $300 million loan agreement for Burkina Faso to combat poverty and bolster the economy. The IMF executive board has granted a four-year loan agreement worth around $302 million under its Extended Credit Facility (ECF) to the West African nation. The first tranche of $31.8 million in aid will be disbursed immediately, the global monetary body said. IMF said the credit line will help "create fiscal space for priority spending, strengthen resilience to shocks while reducing poverty, and bolster fiscal discipline, transparency and governance". "It will also help close financing gaps reflecting tight financial conditions, large fiscal deficits, debt vulnerabilities, food insecurity, and fragile security conditions," said the IMF. IMF Deputy Managing Director Kenji Okamura, commenting on the 48-month-long loan agreement, said the priority lay in changing the challenging macroeconomic outlook of the country. “For the country’s long-term development process, it remains essential to sustain structural reforms to foster economic growth and diversification as well as to reduce poverty. In this context, further efforts to improve the business environment, reinforce governance and anti-corruption efforts, and address the security crisis are critical," said Okamura. Also read | Burkina Faso: At least 51 killed in attacks by jihadist groups Jihadist war-torn country of Burkina Faso Being one of the poorest countries, Burkina Faso is undergoing a violent cycle after witnessing two coups last year. It is battling jihadist insurgency which spilt over eight years ago in 2015 from the neighbouring country of Mali, which is also incidentally run by the military. The region is bustling with Islamist groups linked to deadly terror outfits al Qaeda and Islamic State. WATCH | Troops film boys' killings in Burkina Faso × According to the IMF, over 40 per cent of Burkina Faso's population currently lives in poverty while the UN refugee agency states that two million people have been displaced, with no end to the jihadist violence in sight. Additionally, the violence has led to the death of over 16,000 people. "Growing insecurity and conflict means vulnerability is increasing in the region, and it is getting harder to help communities in isolated areas," said UNICEF Regional Director for West and Central Africa, Marie-Pierre Poirier. (With inputs from agencies) WATCH WION LIVE HERE:

IMF approves $300 million loan for war-torn Burkina Faso

Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday.

WION Dispatch | Reports: Sri Lanka seals staff-level agreement with IMF on loan

Crisis-hit Sri Lanka has unveiled fresh economic measures on Tuesday. The aim of the new reforms is to clinch a bailout from the International Monetary Fund. The reforms raise tax rates and increase payout to the poor.

WION Dispatch: Sri Lankan President presents first budget with hopes of IMF loan

Iran seeks the first International Monetary Fund loan in 6 decades. The satellite images show mass graves in Iran. Was Iran slow in isolating itself from China?

Iran seeks first IMF loan in 6 decades, satellite images show mass graves in Iran!

imf-loan

Imf Loan, News on Imf Loan, stories on Imf Loan, articles on Imf Loan, Imf Loan stories at Wion, Imf Loan news, Imf Loan latest news