Congress Bailouts

  • BEIJING, Nov 6- Pakistan needs to seek a bailout from the International Monetary Fund and make "hard decisions" to avoid going back again, said Muhammad Aurangzeb, chief executive officer of Habib Bank Ltd, the country's biggest lender. The bank is also urging Pakistan to tap China's nascent "panda bond" market, which enables oversees issuers to raise...

  • Pakistan's foreign reserves have plunged 42 percent since the start of the year and now stand at about $8 billion, or less than two months of import cover. Last month, Pakistan received a $6 billion rescue package from Saudi Arabia, but officials say it is not enough and the country still plans to seek a bailout from the International Monetary Fund to avert a...

  • LJUBLJANA, Oct 22- Slovenia's economy is expected to maintain growth due to solid demand for its main exports despite increasing global risks and mounting inflationary pressures linked to higher oil prices, the Bank of Slovenia said in a report on Monday. Slovenia, which only narrowly avoided an international bailout for its banks in 2013, returned to growth a...

  • *IMF expected to push Pakistan to make some hard choices. ISLAMABAD, Oct 12- From cutting power subsidies to forcing currency devaluations that stoke inflation, the hard choices facing Pakistan as it seeks a bailout from the International Monetary Fund pose a major headache for populist new Prime Minister Imran Khan. Talks with the IMF have been launched and...

  • LONDON, Oct 12- Royal Bank of Scotland paid its first dividend since a 2008 British government bailout on Friday, rewarding around 190,000 shareholders with a 2 pence per share payout. UK Government Investments, which manages Britain's remaining 62 percent stake, will receive around 150 million pounds from the payout, first announced at the bank's half-year...

  • *IMF expected to push Pakistan to make some hard choices. ISLAMABAD, Oct 12- From cutting power subsidies to forcing currency devaluations that stoke inflation, the hard choices facing Pakistan as it seeks a bailout from the International Monetary Fund pose a major headache for populist new Prime Minister Imran Khan. Talks with the IMF have been launched and...

  • ISLAMABAD, Oct 9- The Pakistani rupee plunged about 7 percent on Tuesday in an apparent central bank devaluation, while the stock market snapped a six-day skid after the government said it plans to seek a bailout from the International Monetary Fund. It is expected Pakistan will need a bigger sum this year to avoid a balance of payments crisis and stabilize a...

  • ISLAMABAD, Oct 9- The Pakistani rupee plunged about 7 percent on Tuesday in an apparent central bank devaluation, while the stock market snapped a six-day skid after the government said it plans to seek a bailout from the International Monetary Fund. It is expected Pakistan will need a bigger sum this year to avoid a balance of payments crisis and stabilize a...

  • *China role in Pakistan can bring benefits and risks- economist. NUSA DUA, Indonesia, Oct 9- Pakistan has not yet formally approached the International Monetary Fund for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF's chief economist said on Tuesday. Obstfeld said that if the IMF...

  • ISLAMABAD, Oct 8- Pakistan's new government has decided to open talks on emergency financial assistance with the International Monetary Fund amid a mounting balance of payments crisis, the finance minister told local television on Monday. If an assistance package is agreed on, it would be Pakistan's second IMF bailout in five years and its 13th since the late...

  • ISLAMABAD, Sept 18- Pakistani Prime Minister Imran Khan left for Saudi Arabia on Tuesday, the foreign office said, amid speculation he may be seeking economic assistance from a staunch ally instead of another IMF bailout. But Umar recently said an IMF rescue was a "fallback option" and that the government was exploring other avenues for assistance, which was...

  • The remarks, which Chaudhry said Pompeo made during his visit to Pakistan on Wednesday, come in stark contrast to Pompeo's warnings in July that the United States had serious reservations about the IMF giving money to Pakistan due to concerns Islamabad would use the cash to pay off Chinese loans. Chaudhry told Reuters that relations between United States and...

  • *General election due by October 2019 at the latest. *PM gears up for' mother of all battles' in vote. ATHENS, Aug 27- Greek Prime Minister Alexis Tsipras saw his interior minister take up a key post in his leftist Syriza party on Monday, heralding a cabinet reshuffle to shore up waning support after painful bailouts.

  • ATHENS, Aug 27- Workers at Hellenic Petroleum on Monday physically prevented suitors eyeing a majority stake in Greece's biggest oil refiner from entering two of its sites in protest at plans to privatize the utility, a union spokesman said. While privatizations have been a key part of successive bailout agreements Greece has struck since 2010, they have been...

  • *Greece's primary dealers say large premium not worth it. LONDON, Aug 20- Greece celebrated the end of eight years of bailouts on Monday, but expectations that it will mark its new-found fiscal independence with a much-anticipated bond sale next month may be dashed as wider tensions play out. Three of Greece's primary dealers- banks appointed to buy government...

  • *Greece emerges from biggest financial bailout in history. *Greece turning a corner, says spokesman. ATHENS, Aug 20- Greece emerged from the biggest bailout in economic history on Monday after nine years of creditor-mandated austerity, with European institutions hailing the exit a success but jaded Greeks finding little reason to celebrate.

  • Adoption of the single currency ushered in an era of cheap credit that funded a splurge in private consumption and public spending that sent Greece's budget and current deficits ballooning. Since the debt crisis exploded in early 2010, four successive governments have fought to keep bankruptcy at bay, relying on the biggest bailout in economic history, more...

  • LONDON, Aug 3- Britain's Royal Bank of Scotland will pay its first dividend since it nearly collapsed and took a state bailout in 2008, paving the way for the government to further reduce its stake in the lender. Taxpayer-owned RBS said it would pay an interim dividend of 2 pence per share, subject to the finalization of a $4.9 billion settlement with the U.S....

  • LONDON, Aug 3- Britain's Royal Bank of Scotland will pay its first dividend since its near-collapse and state bailout in 2008, paving the way for the government to further reduce its stake in the lender. Taxpayer-owned RBS said it would pay an interim dividend of 2 pence per share, subject to the finalization of a $4.9 billion settlement with the U.S. Department of...

  • Pakistan's economy has hit severe turbulence over the past year and most analysts expect the nuclear-armed nation to seek a bailout, either from the IMF or closest ally China, to avoid a currency crisis. Beijing has pledged $57 billion in loans for Pakistan as part of China's vast Belt and Road initiative, deepening economic and diplomatic ties between the...