IMF

IMF Managing Director Kristalina Georgieva expressed confidence in Argentina's economic reforms under President Javier Milei during a visit to Buenos Aires, praising falling inflation, fiscal discipline, and improved sovereign risk. However, a $32.3 billion foreign-currency debt repayment in 2027 looms, coinciding with Milei's expected reelection bid. The IMF has backed Milei's austerity program, but analysts warn that voter support may wane if economic gains are not felt at home. Moody's, S&P, and Fitch have upgraded Argentina's rating, yet the IMF's latest staff report noted 'exceptional risks' to debt sustainability. Georgieva's visit included a meeting with Milei and a tour of the Vaca Muerta shale formation, key to boosting energy exports.

1 reports · 1 sources · Updated Jul 27, 05:58 PM UTC

IMF Managing Director Kristalina Georgieva arrived in Argentina on July 27, 2026, for her first visit as IMF chief, amid growing investor confidence in President Javier Milei's economic reforms. Argentina's exports are rising, reserves accumulating, and inflation has dropped from 25.5% in December 2023 to 1.9% in June. However, a $32.3 billion foreign-currency debt repayment in 2027 looms, coinciding with Milei's expected reelection bid. The government plans to meet obligations via multilateral financing, privatizations, and local debt issuance. The visit includes meetings with Milei and Economy Minister Caputo, and a trip to the Vaca Muerta shale formation. Analysts warn that while macroeconomic indicators improve, voter sentiment and political risks remain key challenges. The IMF's third review of Argentina's $20 billion program is upcoming.

1 reports · 1 sources · Updated Jul 27, 11:01 AM UTC

Pakistan's Finance Minister Muhammad Aurangzeb has formally requested a $10 billion Exchange Stabilisation Support Facility from U.S. Treasury Secretary Scott Bessent to bolster Pakistan's fragile economy. The facility, routed through the U.S. Treasury's Exchange Stabilisation Fund, would provide currency swaps, financial guarantees, and loans. The request was confirmed by Pakistan's embassy in Washington, though the U.S. Treasury has not commented. Diplomatic sources indicate strong chances of approval, citing the Trump administration's interest in engaging with Pakistan. The request supports Pakistan's 'road-to-market' strategy to regain access to international capital markets, boost foreign exchange reserves, and improve sovereign credit ratings. Pakistan's economy remains heavily dependent on foreign assistance after narrowly avoiding default in 2023, and it is currently implementing reforms under a $7 billion IMF program approved in 2024.

1 reports · 1 sources · Updated Jul 22, 11:27 AM UTC

The International Monetary Fund (IMF) has warned that India's economic growth for the 2026/2027 fiscal year could be lower than expected due to two key downside risks: the re-escalation of the Middle East war driving up oil prices, and the El Nino weather phenomenon threatening monsoon rains. IMF resident representative Ranil Salgado told Reuters that the expanding conflict has implications for oil prices, while El Nino could lead to a poor monsoon. The IMF had already cut its GDP growth forecast for India by 10 basis points to 6.4% in early July, citing higher energy prices. The collapse of a U.S.-Iran ceasefire led to renewed closure of the Strait of Hormuz, spiking Brent crude by 16% to nearly $90 per barrel. India, which imports over 85% of its oil, is scrambling to diversify supply sources, including record volumes from Russia and new deals with Venezuela and Brazil, to offset lost Middle Eastern crude.

1 reports · 1 sources · Updated Jul 21, 02:30 PM UTC

The European Central Bank (ECB) has appointed Boris Kisselevsky as Director General Secretariat, effective 1 November 2026. Kisselevsky, currently Head of the ECB Representative Office in Brussels, will oversee the strategic direction of the Directorate General Secretariat and manage its three divisions. He succeeds Petra Senkovic, who becomes Director General Legal Services. Kisselevsky, a French national, joined the ECB in 1998 as an economist and has held various roles including secondments to the IMF and Central Bank of Russia, management positions in media relations, and service as Financial Counsellor at the French Treasury. He holds master's degrees in law, economics, and business administration. The Directorate General Secretariat is responsible for steering decision-making, fostering collaboration, and ensuring good governance at the ECB.

1 reports · 1 sources · Updated Jul 21, 02:00 PM UTC

The European Central Bank (ECB) has appointed Boris Kisselevsky as Director General of its Secretariat, effective 1 November 2026. Kisselevsky, currently Head of the ECB Representative Office in Brussels, will oversee the strategic direction of the Directorate General Secretariat and manage its three divisions. He will also represent the ECB on internal and external committees and at high-level forums. He succeeds Petra Senkovic, who will become Director General Legal Services. Kisselevsky, a French national, joined the ECB in 1998 as an economist and has held various roles including secondments to the IMF and the Central Bank of Russia, management positions in media relations, and a stint as Financial Counsellor at the French Treasury. He holds master's degrees in law, economics, and business administration.

1 reports · 1 sources · Updated Jul 21, 02:00 PM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget gap. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the war in the Middle East. Reform implementation has slowed, with several structural benchmarks delayed or unmet, though the IMF deemed conditions for the tranche release 'generally satisfactory.' The meeting followed an agreement with Kyiv on revising the reform schedule and establishing corrective measures. The prolonged war is straining Ukraine's economy, increasing the budget deficit, which is largely financed by foreign partners. IMF Managing Director Kristalina Georgieva stressed maintaining macroeconomic stability and urged prudent fiscal and monetary policies to ensure financial sector resilience.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget gap. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the war in the Middle East. Reform implementation has slowed, with several structural benchmarks delayed or unmet, though the IMF deemed conditions for the tranche release 'generally satisfactory.' The meeting followed an agreement with Kyiv on revising the reform schedule and establishing corrective measures. The prolonged war is straining Ukraine's economy, increasing the budget deficit, which is largely financed by foreign partners. IMF Managing Director Kristalina Georgieva emphasized maintaining macroeconomic stability and urged prudent fiscal and monetary policies to ensure financial sector resilience.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund's Executive Board has approved immediate access to approximately $690 million for Ukraine to help bridge its budget deficit. The IMF acknowledged that Ukraine has maintained macroeconomic and financial stability despite the ongoing war, but noted a deterioration in the economic outlook due to intensified attacks on critical infrastructure and the repercussions of the war in the Middle East. While the pace of reform implementation has slowed and some structural benchmarks were delayed or unmet, the IMF deemed the fulfillment of conditions for the aid tranche 'generally satisfactory.' The approval follows an agreement with Ukrainian authorities on revising the reform schedule and establishing corrective measures. IMF Managing Director Kristalina Georgieva emphasized the need for prudent fiscal and monetary policies and measures to ensure financial sector resilience as the prolonged war strains Ukraine's economy and increases its budget deficit, which is largely financed by foreign partners including the IMF.

1 reports · 1 sources · Updated Jul 21, 10:48 AM UTC

The International Monetary Fund (IMF) has identified rising oil prices due to the expanding Middle East conflict and a weak monsoon caused by El Nino as the two biggest downside risks to India's GDP growth for fiscal year 2026/27. India, which imports nearly 80% of its oil, is highly vulnerable to energy shocks that could stoke inflation and slow growth. The IMF recently cut its FY27 growth forecast for India by 10 basis points to 6.4%, while raising the FY28 forecast to 6.7%. IMF senior resident representative Ranil Salgado noted that the war's expansion threatens oil supplies via the Strait of Hormuz, and that the weak monsoon could further impact the economy. Additionally, the IMF plans to reassess the quality of India's national accounts later this year, following previous methodological concerns that led to a low 'C' rating.

1 reports · 1 sources · Updated Jul 21, 06:57 AM UTC

The International Monetary Fund (IMF) Executive Board has completed the first review of Ukraine's Extended Fund Facility (EFF) arrangement and concluded the 2026 Article IV Consultation. This milestone allows for the disbursement of additional funds to support Ukraine's economic stability amid ongoing challenges. The review assessed Ukraine's progress under the EFF program, which aims to restore macroeconomic stability, strengthen governance, and promote sustainable growth. The Article IV Consultation provided a comprehensive assessment of Ukraine's economic health and policy framework. The IMF's approval signals continued international financial support for Ukraine, which has been grappling with the economic impacts of war and reconstruction needs. The decision underscores the IMF's commitment to assisting Ukraine in maintaining fiscal discipline, implementing structural reforms, and addressing vulnerabilities in the financial sector.

1 reports · 1 sources · Updated Jul 21, 02:14 AM UTC

This analysis examines how crypto exchanges are capturing capital flows driven by global de-dollarization. Citing Deutsche Bank Research, the article notes the US dollar's share of central bank reserves has fallen from over 60% to approximately 40%, while gold's share has tripled to nearly 30%. Data from CoinDesk Research shows commodities accounted for $83 billion (81%) of traditional finance perpetual volume on leading exchanges in April 2026. CryptoQuant data indicates metals volume peaked near $500 billion in March 2026, coinciding with gold record highs. Binance's Head of Spot & Derivatives notes strong demand for 24/7 access to traditional and digital assets. The article highlights that emerging market countries with closer non-Western defense ties hold double the gold reserves. J.P. Morgan analysis confirms de-dollarization is most visible in commodity markets. The piece also notes that a portfolio with 5% Bitcoin allocation delivered 82% cumulative return (2020-2026) versus 60% without, improving the Sharpe ratio.

1 reports · 1 sources · Updated Jul 20, 04:39 PM UTC

This analysis from Yahoo Finance, citing Deutsche Bank, CoinDesk, and CryptoQuant data, examines how crypto exchanges are capturing capital flows driven by the de-dollarization trend. The US dollar's share of global central bank reserves has fallen from over 60% to approximately 40%, while gold's share has tripled to nearly 30%. In April 2026, commodities accounted for 81% of traditional finance perpetual volume on leading exchanges. Gold rose 65% in 2026, its best performance since 1979, amid geopolitical tensions and inflation fears. Crypto exchanges offer 24/7 continuous execution, allowing traders to react to central bank announcements in real time. Binance reports strong demand from emerging market users, where 93% of its stock trading users reside. The article also notes that a 5% Bitcoin allocation in a portfolio significantly boosted returns and the Sharpe ratio. It concludes by highlighting the 'stablecoin paradox,' where traders use dollar-pegged stablecoins to hedge against dollar decline.

1 reports · 1 sources · Updated Jul 20, 04:39 PM UTC

Andy Burnham is set to become the UK's seventh prime minister in a decade, but Wall Street veteran Ed Yardeni warns that bond investors, not the prime minister, truly control the country's economic direction. The article highlights an IMF report noting that the 2022 gilt market turmoil marked a structural shift in fragility, with foreign investors now holding up to 30% of UK government debt and global factors driving 60-90% of yield variation. Burnham, who previously criticized being 'in hock to the bond market,' inherits a hyper-reactive market that ousted Liz Truss. He faces a difficult balancing act between reviving growth and maintaining fiscal credibility. Markets are cautiously optimistic about his expected appointment of Shabana Mahmood as Chancellor, but Yardeni cautions that 'Bond Vigilantes are restless.' The IMF advises against hiking taxes on top earners, suggesting instead targeted increases at lower income levels.

1 reports · 1 sources · Updated Jul 19, 08:00 PM UTC

Andy Burnham is set to become the United Kingdom's seventh prime minister in a decade, but Wall Street veteran Ed Yardeni warns that bond investors, not the prime minister, will truly be in charge. The article highlights an IMF report noting that the 2022 gilt market turmoil under Liz Truss marked a structural shift, leaving the UK vulnerable to volatile capital flows. Foreign investors now hold up to 30% of UK government debt, and the bond market remains 'hyper-reactive.' Burnham, a Labour Party leader, has previously criticized being 'in hock to the bond market' but must now balance reviving economic growth with maintaining fiscal credibility. Reports that Shabana Mahmood may become Chancellor have cheered markets, but Yardeni cautions that 'Bond Vigilantes are restless.' The IMF suggests targeted tax increases on lower earners rather than top earners to avoid harming the economy.

1 reports · 1 sources · Updated Jul 19, 08:00 PM UTC

A Deutsche Bank report reveals stark contrasts in global purchasing power driven by currency fluctuations. Tel Aviv has become the world's most expensive city to buy a McDonald's meal ($20.90), propelled by a strong shekel boosted by Israel's tech and defense industries, as well as wartime economic resilience. The city also ranks high for gasoline, cars, and housing costs, with supply constraints and tariffs contributing. Meanwhile, Tokyo has transformed from one of the priciest cities in the 1990s to a bargain today, as the yen lost 51% of its value against the dollar since 2012 due to decades of loose monetary policy. Japan now offers the cheapest iPhones globally, and a three-bedroom apartment in central Tokyo rents for about a quarter of the New York price. The report highlights how defense spending and tech dominance strengthened the shekel, while Japan's persistent deflation and near-zero interest rates weakened the yen, reshaping global cost-of-living rankings.

1 reports · 1 sources · Updated Jul 19, 10:00 AM UTC

A Deutsche Bank report reveals that currency fluctuations have dramatically shifted global cost-of-living rankings. Tel Aviv now has the world's most expensive McDonald's meal at $20.90, driven by a shekel strengthened 30% against the dollar due to Israel's booming tech and defense sectors, strong stock market performance (up 50% vs S&P 500's 20%), and supply constraints on housing and food. Meanwhile, Tokyo, once among the priciest cities, now offers a McMeal for just $4.90 due to Japan's yen weakened by two decades of near-zero interest rates. The report highlights that Tel Aviv's high costs stem from domestic policies including centralized land control (90% by Israel Land Authority), high agricultural tariffs (7.5% average, 42% on dairy), and tight housing supply. Despite a 20% GDP contraction in late 2023 during the Gaza war, the shekel has remained resilient, with Israeli investors shifting assets back to shekel-denominated holdings.

1 reports · 1 sources · Updated Jul 19, 10:00 AM UTC

Greece's police minister Michalis Chrysochoidis has vowed to solve the 2010 Marfin bank arson case, one of the country's most notorious cold cases, after two men were arrested in the Athens area and a woman is set to be extradited from Britain. The attack occurred on May 5, 2010, during an anti-austerity protest when a firebomb was thrown at the bank in central Athens, killing three bank workers, including a pregnant woman. Chrysochoidis, who was police minister at the time, described the incident as 'one of the most heinous crimes' in Greece's last five decades. Police identified the suspects using advanced digital photographic analysis and an anonymous email tip-off, though lawyers for the suspects have called the evidence 'scant' and 'unreliable'. The minister stated the case is 'watertight' and that additional suspects remain unidentified. The attack occurred three days after Greece signed its first bailout agreement with international creditors.

1 reports · 1 sources · Updated Jul 18, 02:54 PM UTC

Greece's police minister Michalis Chrysochoidis announced on Saturday that the 2010 Marfin bank arson case, which killed three people including a pregnant woman during an anti-austerity protest, is now 'watertight' after two men were arrested in Athens and a woman is set to be extradited from Britain. The attack occurred on May 5, 2010, when a firebomb was thrown at the bank during protests against austerity measures. Three bank officials were later convicted of manslaughter for negligence, but the actual perpetrators remained at large for over a decade. Police identified the suspects using advanced digital photographic analysis and an anonymous email tip. Chrysochoidis, who was police minister at the time of the attack, said the case had 'left a mark' on him and that he personally worked on it for two years. He added that additional suspects remain unidentified. Lawyers for the arrested suspects have described the evidence as 'scant' and 'unreliable'.

1 reports · 1 sources · Updated Jul 18, 02:54 PM UTC

Former UK Prime Minister Liz Truss, whose own 2022 mini-budget caused a financial crisis and her ouster after 49 days, has predicted that incoming Labour Prime Minister Andy Burnham will lead Britain into a 'financial crisis.' Speaking at the right-wing CPAC GB conference, Truss claimed 'the money's going to run out' and that migration and stagnation will worsen. The prediction comes as Burnham prepares to take office from Keir Starmer, amid concerns over his public spending plans. The IMF recently warned that UK gilt markets remain nervous due to the scars from Truss's 2022 mini-budget. Truss, who lost her seat in 2024, also called for a 'counter-revolution' and criticized political cowardice, though her appearance drew a sparse audience. The article highlights the irony of Truss's warning given her own disastrous economic record.

1 reports · 1 sources · Updated Jul 17, 03:03 PM UTC

Former UK Prime Minister Liz Truss, whose own 2022 mini-budget caused market turmoil and led to her ouster after 49 days, has predicted that incoming Labour Prime Minister Andy Burnham will lead Britain into a 'financial crisis.' Speaking at the CPAC GB conference, Truss warned that 'the money's going to run out' and forecast another prime minister before 2029. The remarks come as Burnham prepares to take office from Keir Starmer, with some concerns over his public spending plans. The IMF recently warned that UK gilt markets remain nervous due to the legacy of Truss's 2022 budget. Truss, who lost her seat in 2024, also called for a right-wing 'counter-revolution' and criticized political cowardice. The article highlights the irony of Truss's prediction given her own role in a previous financial crisis.

1 reports · 1 sources · Updated Jul 17, 03:03 PM UTC

Argentina's gross public debt increased by US$ 12,846 million in April 2026, reaching a record total of US$ 496,676 million, according to the Ministry of Finance. This rise occurred despite significant payments totaling US$ 12,237 million for maturities and amortizations during the month. The primary drivers of the debt increase were the capitalization of interest on securities, the appreciation of the peso against the dollar, and inflation adjustments linked to the CER index. Specifically, local currency debt grew by an equivalent of US$ 11,020 million, while foreign currency debt rose by US$ 1,809 million. Since the beginning of President Javier Milei's administration in November 2023, the national gross debt has increased by US$ 71,120 million. Currently, 53% of the debt in normal payment status is denominated in foreign currency, with nearly US$ 100 billion owed to international financial organizations such as the IMF and World Bank. The reported figures exclude liabilities from the Central Bank, provinces, and municipalities, focusing solely on the National Treasury's obligations.

1 reports · 1 sources

Pakistan's recent economic growth of 3.7 percent signals a recovery from the brink of default, yet this expansion falls short of targets and masks deeper structural issues. While macroeconomic indicators like GDP crossing $452 billion and rising per capita income appear positive, the article argues that these figures do not reflect improved living standards for citizens. The core critique focuses on an economy that prioritizes politically connected sectors, such as sugarcane, over productive industries like cotton and leather. Exporters in traditional sectors face crippling taxes, bureaucratic hurdles, and high energy costs, hindering their potential. In contrast, the success of the tyre export industry demonstrates that Pakistani manufacturing can compete globally when supported by technology and discipline. However, such successes remain exceptions rather than the norm. The analysis concludes that stabilization measures have bought time but failed to address systemic extraction by the state. Future budgets must shift focus from merely satisfying IMF requirements to protecting production and implementing genuine structural reforms to ensure sustainable economic health.

1 reports · 1 sources

Russian Foreign Minister Sergey Lavrov criticized the Group of Seven (G7) nations for dominating the policies of Bretton Woods institutions, specifically the World Bank and the International Monetary Fund (IMF). Speaking at a BRICS ministerial meeting in New Delhi, Lavrov argued that the current global financial architecture is discriminatory and lacks transparency. He highlighted the discrepancy between economic reality and institutional power, noting that while the G7 accounts for less than one-third of global output, it retains disproportionate control. In contrast, BRICS nations, representing approximately 40% of global GDP, lack comparable influence. Lavrov emphasized the urgent need to reform the IMF’s quota distribution system to better reflect the modern balance of power. He accused the IMF of prioritizing the interests of Western minority shareholders while neglecting the needs of the Global South and East. The foreign minister concluded that correcting these historical injustices by realigning international institutions with current economic potentials would enhance the effectiveness of the global international architecture and remove existing dividing lines.

1 reports · 1 sources

At an event organized by the liberal think tank Cato Institute, former World Bank President David Malpass and Argentine economist Emilio Ocampo strongly advocated for the full dollarization of Argentina's economy. Malpass, who served under Donald Trump, argued that eliminating the Argentine peso is crucial to restoring investor confidence and attracting massive capital inflows. He claimed that 90% of Argentina's economic deterioration stems from the existence of the local currency, asserting that formal dollarization would trigger an immediate surge in investment without requiring significant prior reserves. Emilio Ocampo, a former advisor to President Javier Milei, supported this view by highlighting the success of dollarized economies like Ecuador and Panama. He noted that Argentines already hold significantly more dollars than pesos, indicating a de facto preference for the US currency. Ocampo criticized the current system as inefficient and stagnant, arguing that dollarization would provide long-term credibility and protect citizens' wealth from political interference. Although dollarization was a central promise in Milei's 2023 campaign, it was later discarded by his administration. The speakers contended that international institutions resist dollarization because they benefit from the current monetary order.

1 reports · 1 sources

The International Monetary Fund (IMF) has issued a stark warning regarding Pakistan's heavy economic reliance on the Gulf Cooperation Council (GCC), noting that GCC countries supply 85% of Pakistan's fuel imports and account for 50% of its remittances. In response, Islamabad is developing strategic alternatives to diversify its economic partnerships. Dr. Shaista Tabassum, an international relations expert, outlines three key approaches: expanding trade with Russia and Central Asia, including potential gas pipeline projects; addressing domestic mismanagement in the fuel sector by investing in local renewable energy sources like wind and solar; and utilizing new trade corridors such as the QTTA route connecting China to Central Asia. Additionally, Pakistan has begun issuing 'panda bonds' in China to access alternative capital markets and reduce reliance on traditional roll-over financing. While these measures represent a significant shift in strategy, experts caution that breaking decades of dependency on Gulf states will be a gradual process requiring sustained diplomatic and economic effort. The article highlights Pakistan's broader geopolitical pivot towards Eurasian markets as a contingency plan against regional instability and economic volatility.

1 reports · 1 sources

Numan Kurtulmuş, Speaker of the Grand National Assembly of Turkey, delivered a critical address at the Search for Global Justice Conference in Bursa, condemning what he termed wild, vampire capitalism as a major disruptor of the global economic system. He argued that a small elite exploits geopolitical conflicts, specifically citing the war launched by America and Israel against Iran, to generate billions in profits from market fluctuations. Kurtulmuş highlighted extreme global wealth inequality, noting that the top 1 percent owns half of the world's wealth, a disparity he described as unprecedented in human history. He criticized existing global financial institutions like the IMF and World Bank for failing to address these injustices or serve humanity broadly. Instead, he called for the establishment of a new global economic architecture that prioritizes justice, equity, and the needs of all peoples rather than just wealthy elites. Kurtulmuş emphasized that restraining rampant capitalism is essential to preventing further global disaster and ensuring human dignity amidst rising poverty and climate crises.

1 reports · 1 sources

Anthropic's newly announced Claude Mythos AI model has triggered significant concern among global financial and security leaders due to its autonomous capability to discover and exploit software vulnerabilities. In tests conducted by the UK's AI Security Institute (AISI), Mythos successfully executed a complex 32-step corporate network attack, achieving full system takeover in approximately 20 hours—a task that typically requires significantly more time for human professionals. The model identified thousands of high-severity flaws across major operating systems and browsers, including a decades-old vulnerability in OpenBSD. However, experts note these results were achieved in controlled lab environments lacking active defenses or sandboxing. Despite these limitations, the AISI warns that offensive AI capabilities are doubling every four months, suggesting an urgent need for defensive adaptation. The report highlights that performance scales with compute resources, implying that attackers with sufficient token budgets can continuously find new exploits. This development has prompted open letters from the UK government to business leaders and discussions at the IMF, signaling a pivotal shift in cybersecurity dynamics where AI-driven attacks may outpace traditional human-led defense mechanisms.

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The federal government of Pakistan is preparing to reduce income tax and sales tax exemptions in the upcoming fiscal year 2026-27 budget. This strategic move aims to increase revenue collection and fulfill fiscal commitments associated with the International Monetary Fund’s (IMF) program. Official documents indicate that reducing these exemptions is expected to generate additional revenue equivalent to 0.15 percent of GDP. Furthermore, authorities plan to secure another 0.15 percent of GDP through the Federal Board of Revenue’s (FBR) ongoing reform initiatives, bringing the total projected additional revenue to 0.3 percent of GDP. The government has assured the IMF that further permanent tax measures will be introduced if revenue collections fall short of targets during the fiscal year. These steps align with earlier IMF recommendations focused on tax broadening and administrative reforms. Under the current reform roadmap, the FBR aims to collect Rs. 7.022 trillion by December 2026 through enhanced enforcement and systemic improvements. This approach underscores the administration's determination to stabilize public finances and maintain compliance with international lending conditions.

1 reports · 1 sources

The Pakistani government has formally assured the International Monetary Fund (IMF) that it will continue to pass the full impact of global energy prices onto consumers through regular adjustments in electricity and gas tariffs. This commitment was made during ongoing budget negotiations linked to the next phase of Pakistan's bailout program. While protected consumer categories will remain exempt, all other users will face increased costs under a full cost recovery model. The government pledged to maintain quarterly electricity tariff adjustments and monthly fuel charge updates without delay. Additionally, authorities set a subsidy ceiling of Rs. 830 billion for fiscal year 2027, approximately 0.6 percent of GDP, covering distribution companies and circular debt obligations. The plan includes limiting annual circular debt growth to Rs. 300 billion and finalizing agreements with Independent Power Producers by June 2026. Furthermore, the government aims to privatize major power distribution entities, including IESCO and GEPCO, by early 2027, while committing to quarterly public disclosure of gas sector circular debt data to enhance transparency and meet fiscal targets.

1 reports · 1 sources