In an interview to PTI, Seth said that an IMF paper on crypto assets was discussed among emerging economies on January 15 and 16 in Delhi.
Finance Minister Ishaq Dar met IMF Pakistan Mission Chief Nathan Porter, the finance ministry said, and briefed him on the "fiscal and economic reforms and measures being taken by the government in different sectors".
More than $1 billion funding has been delayed since November last year over fiscal consolidation issues as part of the lender's ninth review of its Extended Fund Facility, which is meant to help countries facing a balance-of-payment crisis.
On its most recent update to the World Economic Outlook, the IMF sees growth in emerging market and developing economies at 4.0% in 2023, 0.3 percentage point higher than its October projection, and 0.1 percentage point higher than the 3.9% estimate for 2022. For 2024, the projection is for a 4.2% expansion.
World growth has been bogged down by fallout from Russia's invasion of Ukraine last year, economic downturns and efforts to rein in spiraling costs of living.
Gourinchas said that while global inflation developments were encouraging, the battle is "far from won"
The multilateral agency expects the global consumer inflation to drop sharply from 8.8 percent in 2022 to 6.6 percent in 2023 and then again to 4.3 percent in 2024
The funding includes $3.3 billion under the IMF's Extended Credit Facility and Extended Fund Facility programs and $1.4 billion under the new RSF, which aims to help vulnerable middle-income countries and island states.
Amid this economic crisis, the Shahbaz Sharif government will begin crucial negotiations with the Washington-based IMF (International Monetary Fund) for a bail-out package on Tuesday which may come with "tough and possibly politically risky" pre-conditions of austerity, feeding into a bigger political crisis, they said.
With inflation soaring to nearly 25 percent, and its interest rate at a 24-year-high of 17 percent, Pakistan appears to be crumbling.
India’s move has forced China also to support the debt revamp plan for Sri Lanka
Pakistan and the International Monetary Fund (IMF) officials are scheduled to kick-start parleys from Tuesday for accomplishing the ninth review under the Extended Fund Facility during which the fiscal slippages and reconciliation of figures will be the major topic of discussion.
The remarks from Sharif came as the country’s economy is precariously tethering with just USD 3.7 billion in foreign reserves, which is considered a critical level by experts.
The IMF and Pakistan signed a $6 billion bailout in 2019, that was topped up with another $1.1 billion last year, but that came with conditions attached, aimed at reducing the budget deficit before the loan is released.
Also, External Affairs Minister S Jaishankar during his recent visit to Colombo gave the required assurances to Sri Lanka's top leadership for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts to recover from its worst-ever economic crisis.
India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said.
With Sri Lanka’s economy in the throes of the worst crisis since independence from Britain in 1948, the government is waiting for financing assurances from China, its largest bilateral lender, that would help clinch the $2.9 billion IMF package.
The Sunday Times newspaper reported that Chinas Exim Bank delivered a letter on Saturday granting Sri Lanka a two-year moratorium on repayment and agreeing with the International Monetary Fund's extended fund facility (EFF).
Jaishankar, who is here on a two-day visit, called on President Ranil Wickremesinghe on Friday morning and also held talks with Foreign Minister Ali Sabry.
Jaishankar, who is here on a two-day visit, on Thursday met Sri Lanka's top leadership, including his Sri Lankan counterpart Ali Sabry and President Ranil Wickremesinghe.
A global slowdown will impact the Indian economy. But that impact will be limited compared to other countries as the Indian economy is driven by local consumption
Gopinath said India needs to take up reforms in the labour market and land in order to fix some of the gaps. She praised India's progress in creating both the digital as well as physical infrastructure.
“We have a tough year ahead, but there are signs of resilience,” is how Gita Gopinath described the International Monetary Fund’s (IMF) outlook for 2023.
The Fund reiterated December forecasts that Uganda's economy will grow by 5.3% in the 2022/23 fiscal year starting last July, down from a 6.0% growth forecast issued in March 2022.
Gita Gopinath, IMF on stemming the cost of living crisis, live at Davos 2023. Tune in!