In addition, the government is expected to meet a large part of its short-term financing needs through the issuance of a eurobond guaranteed by the US government, and a possible request of extending the
Standby Agreement (SBA) already in place with the International Monetary Fund (IMF).
It is a so-called
standby agreement. The Contractor is to provide the necessary technical and human capacities via the above contract period.
In addition, Tallwood has agreed to purchase an additional USD11.25m of common stock at the same per share price (the
standby agreement).
Together with 30 billion euro from a
standby agreement with the International Monetary Fund (IMF), a loan package of 110 billion euro was established.
Key new flows during the week included 1) issuance of NOC by State Bank of Pakistan to Fauji Foundation for the acquisition of AKBL, 2) a commitment demanded by the IMF from all political parties that the terms of agreement for a fresh 3-year
standby agreement (SBA) will be adhered to by the next government and 3) Remittances for 1HFY13 rising to US$7.2 billion, up 12.5%YoY.
Therefore I think it is here that the most delicate discussion will be held, in a context in which the reform of the state-owned companies was a key point in the agreement we are part of,' said Ionut Dumitru.A mission of the International Monetary Fund, headed by Erik de Vrijer, will be in Bucharest between January 15 and 29 for the 7th and the 8th evaluation of the
standby agreement with Romania.
In addition, Jamaica's fiscal position, macroeconomic parameters and external liquidity are set to improve further following its
standby agreement with the IMF.
Mohsin Khan was a director of IMF in November 2008 when Pakistan negotiated a
standby agreement with the multilateral lending agency.
The Ukrainian authorities have requested a two-year, $16.5 billion
standby agreement with the International Monetary Fund.
Under a three-year
standby agreement that expires next February, the government has been running a primary budget surplus (before debt interest payments) equivalent to 6.5 percent of gross domestic product.
Manufacturers already burdened with tax and rising fuel costs under the low-defunct IMF
standby agreement, have called on the government to negotiate new rates with banks to stop the crisis from spreading into other sectors.
Under the
standby agreement which the government had to undergo after suspension of the Extended Structural Adjustment Facility (ESAF) by IMF, due to the government's failure to meet the IMF imposed conditionalities.
