IMF lending always boosts investors' confidence, as strong reform preconditions the Fund imposes help a country's eco- nomic recovery.
Sitaraman pointed out various initiatives taken by the Govt of India for women's empowerment, enhancing their economic independence and their outcomes.
The International Monetary Fund on Tuesday hailed India as "one of the bright spots" in the global economy even as it trimmed its projected growth for 2023 by 0.2 percentage points, but only because, it acknowledged, it had previously underestimated the country's performance during the Covid-19 pandemic years of 2020-2021.
The World Bank has said that various economic shocks have resulted in nearly four million Pakistanis getting pushed into poverty this fiscal year.
The present government under Shehbaz Sharif has defrosted the IMF programme (frozen in March 2022) and is in the throes of negotiations for its speedy resuscitation
The fresh drop came after the government failed to make any headway in its talks with the International Monetary Fund (IMF) for the revival of its stalled USD 6.5 billion loan programme.
In what appears to be an alternative to the International Monetary Fund (IMF), Pakistan Finance Minister Ishaq Dar expressed hope to receive a $3 billion second bailout from Saudi Arabia within days, vowing to raise money through sale of assets to beef up the critically-low foreign exchange reserves.
It added that the recovery was accompanied by significant fiscal consolidation and social support for the most vulnerable.
In the fiscal year, 2022-2023, in July-September the debt and liabilities stood at Rs 62.46 trillion which is more than the same period of last fiscal year,