ISLAMABAD: A group of migrants who survived the capsizing of a boat off the coast of West Africa earlier this month began returning to Pakistan on Thursday, the country’s Ministry of Foreign Affairs said.
Some 50 people died when a boat carrying them to the Canary Islands capsized near Dakhla, a Moroccan-controlled port city in the disputed Western Sahara, including 44 Pakistanis, according to Pakistani President Asif Ali Zardari and Walking Borders, a Spain-based migrant rights group.
Foreign ministry spokesperson Shafqat Ali Khan said that some of the 22 Pakistani survivors had already returned home on two flights. He did not give any further details, and it was unclear how many survivors returned home.
Almost all the Pakistanis who were on the boat were from cities in the eastern province of Punjab, and relatives of those who are feared dead have been urging the government to make efforts to bring back their bodies.
Hundreds of Pakistanis die every year while trying to reach Europe by land and sea with the help of human smugglers. Pakistan says it has launched a crackdown on human traffickers and sacked several immigration officials for negligence.
Migrants who survived capsize off African coast begin returning to Pakistan
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Migrants who survived capsize off African coast begin returning to Pakistan
- Some 50 people, including 44 Pakistanis, died when a boat carrying them to Canary Islands capsized near Moroccan coast
- Foreign ministry spokesperson says some of the 22 Pakistani survivors had already returned home on two flights
IMF board to meet tomorrow to consider $1.2 billion disbursement for Pakistan
- Pakistan, IMF reached a Staff-Level Agreement for second review of $7 billion loan program
- Economists view disbursement crucial for cash-strapped Pakistan as it tackles economic crisis
ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board will meet tomorrow, Monday, to consider and approve a $1.2 billion disbursement for Pakistan, according to the global lender’s official schedule.
The meeting takes place nearly two months after the Fund reached a Staff-Level Agreement (SLA) with Pakistan for the second review of its $7 billion Extended Fund Facility (EFF) and the first review of its $1.4 billion Resilience and Sustainability Facility (RSF).
The SLA followed a mission led by IMF’s Iva Petrova, who held discussions with Pakistani authorities during a Sept. 24–Oct. 8 visit to Karachi, Islamabad and Washington, DC.
“The International Monetary Fund’s (IMF) Executive Board will convene on Dec. 8 to consider Pakistan’s request for a $1.2 billion disbursement under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), according to the Fund’s updated schedule,” the state-run Pakistan TV reported on Sunday.
Economists view IMF’s bailout packages as crucial for cash-strapped Pakistan, which has relied heavily on financing from bilateral partners such as Saudi Arabia, China and the United Arab Emirates, as well as multilateral lenders including the IMF, World Bank, Asian Development Bank and Islamic Development Bank.
The South Asian country has been grappling with a prolonged macroeconomic crisis that has drained its financial resources and triggered a balance of payments crisis. Islamabad, however, has recorded some financial gains since 2022, which include recording a surplus in its current account and bringing inflation down considerably.
Speaking to Arab News last month, Pakistan’s former finance adviser Khaqan Najeeb said the $1.2 billion disbursement will further stabilize Pakistan’s near-term external position and unlock additional official inflows.
“Continued engagement also reinforces macro stability, as reflected in recent improvements in inflation, the current account, and reserve buffers,” Najeeb said.
Pakistan came close to sovereign default in mid-2023, when foreign exchange reserves fell below three weeks of import cover, inflation surged to a record 38 percent in May, and the country struggled to secure external financing after delays in its IMF program. Fuel shortages, import restrictions, and a rapidly depreciating rupee added to the pressure, while ratings agencies downgraded Pakistan’s debt and warned of heightened default risk.
The crisis eased only after Pakistan reached a last-minute Stand-By Arrangement with the IMF in June 2023, unlocking emergency support and preventing an immediate default.
