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Crisis-hit Pakistan strikes $3bn funding deal with IMF
Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding.
The deal, which still needs to be approved by the global lender’s board, comes after an eight-month delay.
The South Asian nation is facing its worst economic crisis since independence from Britain in 1947. To help secure the deal, Pakistan’s central bank raised its main interest rate to a record high of 22% on Monday.
Pakistan’s economy, which was already struggling after years of financial mismanagement, has been pushed to the brink by a global energy crisis and devastating floods that hit the country last year. “The economy has faced several external shocks such as the catastrophic floods in 2022 that impacted the lives of millions of Pakistanis and an international commodity price spike in the wake of Russia’s war in Ukraine,” Nathan Porter, IMF’s mission chief for Pakistan said.
“As a result of these shocks as well as some policy missteps… economic growth has stalled,” he added.
Once agreed at staff level such deals are usually granted by the IMF’s Executive Board. The board is expected to consider the agreement in the coming weeks.
(BBC)
A 34 ball 51 from Lahiru Udara and a four wicket haul by Nuwan Thushara helped Kandy Royals defeat Kandy Royals defeat Dambulla Sixers by 34 runs in the sixth match of the Lanka Premier League 2026 played at Dambulla on Tuesday [21st]
Scores:
Kandy Royals 194/6 in 20 overs [Kusal Perera 25, Lahiru Udara 51, Moeen Ali 24, Wanidu Hasaranga 29, Angelo Mathews 29, Vijay Shankar 13*; Fazalhaq Farooki 2-20, Mohammad Wasim 1-42, Dushmantha Chameera 1-37, Maheesh Theekshana 1-39, Vishwa Lahiru 1-40]
Dambulla Sixers 151/8 in 20 overs [Shahibzada Farhan 74, Dinesh Chandimal 12, Niroshan Dikwella 26, Reeza Hendricks 27; Shaheen Shah Afridi 1-32. Nuwan Thushara 4-29, Wanidu Hasaranga 1-19, Duushan Hemantha 2-23]
The Chartered Computer Institute of Sri Lanka was established in 1976 as the premier and sole body representing professionals in the Information and Communication Technology sector in Sri Lanka. It has recognized the importance of establishing the Sri Lanka Chartered Computer Association as the main professional organization to act on behalf of the interests of professionals representing the computer sector in Sri Lanka, which should be treated equally with other professional organizations that have obtained chartered status and other formal recognition.
Accordingly, taking into account a resolution furnished by the Hon. President, the Cabinet of Ministers has decided to grant policy approval for the establishment of the Chartered Computer Institute of Sri Lanka and to instruct the Legal Draftsman to prepare a draft bill in line with the proposed objectives.
it has become essential to introduce appropriate revisions to the Drug Dependent Persons (Treatment and Rehabilitation) Act No 54 of 2007 so that a proper formal mechanism can be maintained in treatment and rehabilitation.
Accordingly, considering a resolution forwarded by the Minister of Public Security and Parliamentary Affairs, the Cabinet of Ministers decided to grant the policy approval to revise the Drug Dependent Persons (Treatment and Rehabilitation) Act No 54 of 2007 and direct the Legal Draftsman to formulate a draft bill including the relevant amendments.
A few showers will occur in the Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts
Customs asked to resume probe or face legal action
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