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Pakistan reaches agreement with IMF to resume loan

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Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF), a milestone that would pave the way for the release of an additional $1.2 billion in loans and unlock more funding, news agencies reported.

The IMF will also consider an extension of the facility to end-June 2023, it said in a statement. The accord will make additional funds available once the board approves, taking the extended loan facility with Pakistan to about $7 billion, it said.

Funds from the IMF will help avert a potential default, and pave the way for more aid from other multilateral institutions and friendly nations. Pakistan needs at least $41 billion in the next 12 months to repay debt and fund imports as foreign-exchange reserves shrink to a level that could only cover less than two months of imports.

Pakistan’s rupee, dollar bonds and stocks rose as investors cheered the prospect of a bailout. The country requires at least $41 billion through June next year to keep the foreign-exchange stock at a “respectable” level and repay debts, the finance minister has said.The nation’s dollar bonds due in December was indicated 2.2 cents higher at 90.04 per dollar, while debt due in April 2031 was quoted 0.2 cents higher.

Pakistan’s rupee strengthened as much as 1% to 208.2 a dollar, while the benchmark KSE-100 Index of stocks gained 0.9%.Nomura is overweight Pakistan’s 2022 Islamic bond, which has a high likelihood of being redeemed at par in December, according to the note.To win IMF’s accord, Pakistan has raised electricity tariffs and almost doubled diesel pump prices over the past two months even as inflation has accelerated to a 13-year-high.The $1.2 billion disbursement is expected in August after the IMF’s management gives final approval, according to a government official familiar with the matter.

Among the policy priorities for the IMF are: Enabling a proactive monetary policy to slow inflation to 5%-7% over the medium term and greater exchange rate flexibility to rebuild reservesTargeting an underlying primary surplus of 0.4% of gross domestic product by restraining spending and boosting revenue Resuming reforms including timely adjustment of power tariffReducing poverty levels, strengthening governance and social safety

SOURCE: BLOOMBERG



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INS Udaygiri departs Colombo concluding formal visit

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The Indian Naval Ship (INS) Udaygiri departed the Port of Colombo today, 11 September 2026, following the successful completion of a four day official visit.

On her departure, the Sri Lanka Navy bade farewell to the ship in accordance with time-honoured naval traditions.

During the visit, naval personnel from both navies engaged in joint initiatives to strengthen bilateral ties. These included a friendly volleyball match, a beach cleanup along the Galle Face
promenade, and a training exercise on Visit, Board, Search, and Seizure (VBSS) conducted by the Sri Lanka Navy Special Boat Squadron (SBS).

As part of the visit, the Indian Navy handed over a consignment of spares and supplies to the Sri Lanka Navy. Visiting crew members also toured key tourist attractions in and around Colombo.

Official interactions of this nature aim to enhance cooperation and knowledge-sharing between the two maritime forces, supporting joint responses to evolving regional maritime challenges.

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President meets representatives from Sri Lanka Scout Association

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A meeting between President Anura Kumara Dissanayake and representatives of the Sri Lanka Scout Association was held at the Presidential Secretariat on Thursday (10)  afternoon .

The President was briefed on the 11th National Scout Jamboree, scheduled to be held in Sri Lanka in January 2027, as well as the current status and progress of its organisational arrangements.

The official logo of the National Scout Jamboree was also presented to the President and officially unveiled on the occasion.

Views were also exchanged on the programmes currently being implemented by the Sri Lanka Scout Association and its future plans.

President Anura Kumara Dissanayake emphasised the importance of expanding the Scout Movement to more schools and the contribution that the Scout Movement can make to the Government’s programmes to combat drugs.

President’s Senior Additional Secretary Roshan Gamage; Chief Scout Commissioner, Attorney-at-Law Manoj Nanayakkara; President of the Sri Lanka Scout Association Ransiri Perera; Deputy Chief Scout Commissioner (Acting) Kapila Perera; Chairman of the Executive Committee Kamalnath Jinadasa; and Jamboree Co-Organising Commissioner, Engineer Amil Abeysundara, were among the senior representatives of the Sri Lanka Scout Association who attended the occasion.

[President’s Media Division]

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Meeting between Catholic religious leaders and President

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A meeting between President Anura Kumara Dissanayake and Catholic religious leaders, led by His Eminence Malcolm Cardinal Ranjith, Archbishop of Colombo, was held at the Presidential Secretariat on Thursday (10).

Special attention was given to the Government’s programme to strengthen coexistence, peace and reconciliation among all communities in the country and to ensure national unity by preventing any form of racist or religiously motivated hate activity.

The progress of investigations into the Easter Sunday attacks was also discussed.

Lengthy discussions were held on measures that could be taken to prevent environmental damage and destruction affecting the lives of the people.

The Catholic religious leaders commended the measures taken by the Government to safeguard trust among all communities and expressed their fullest support for these efforts.

The issues faced by Catholic communities, including infrastructure development in areas where Catholic people reside, as well as measures that should be taken to address these issues, were also discussed at length.

Rev. Fr. Cyril Gamini, Rev. Fr. Julian Patrick and other priests, as well as Deputy Minister of Religious and Cultural Affairs Muneer Mulaffer, President’s Senior Additional Secretary Roshan Gamage and others, were also present at the meeting.

President’s Media Division (PMD)

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