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Welcome to the Current Affairs Section.

Welcome to the Current Affairs Section of BSC Academy. Get Daily & Latest Current Affairs 2021 for government job exams, UPSC, IAS/PCS, Banking, IBPS, SBI, RBI, SSC, Railway, UPPSC, BPSC, MPPSC, MPSC, KPSC, TNPSC, RPSC, UKPSC, APPSC and other competitive exams.

Trending Current Affairs

Congress forms alliance with TDP to fight panchayat and municipal polls in Andaman & Nicobar Islands

Friday February 4, 2022

The Andaman and Nicobar Islands Congress unit has formed an alliance with the

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Veteran CPI(M) leader & former Tripura Assembly Speaker R C Debnath dies at 66

Friday February 4, 2022

Veteran CPI(M) leader and former Speaker of Tripura Legislative Assembly

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BJP MLA from Bara seat quits party

Friday February 4, 2022

The BJP MLA from reserved Bara assembly constituency in Prayagraj district Ajay Kumar has quit the party in

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Biden sending more troops to Europe amid Ukraine tension

Friday February 4, 2022

President Joe Biden is sending about 2,000 troops from Fort Bragg, North Carolina, to Poland and Germany this

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IMF approves USD 1 billion loan tranche for Pakistan

Friday February 4, 2022

The International Monetary Fund has approved the completion of the sixth review of its stalled USD 6 billion programme for Pakistan, paving the

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IMF approves USD 1 billion loan tranche for Pakistan

The International Monetary Fund has approved the completion of the sixth review of its stalled USD 6 billion programme for Pakistan, paving the way for an immediate disbursement of about USD 1 billion loan tranche for the cash-strapped country.

The IMF's Executive Board held a meeting in Washington DC on Feb 2 to consider Pakistan's request for completion of the sixth review and release of a USD 1 billion tranche under the Extended Fund Facility (EFF).

The completion of this review allows for an immediate disbursement of 750 million in Special Drawing Rights (SDR) (about USD 1 billion) to Pakistan, bringing total disbursements under the arrangement to SDR 2,144 million (about USD 3 billion) or 106 per cent of the country's quota.

Finance Minister Shaukat Tarin also confirmed the approval in a tweet.

In July 2019, Pakistan and the IMF reached a staff-level agreement on economic policies for a three-year Extended Fund Facility (EFF). Under the agreement, Pakistan was to receive about USD 6 billion for a period of 39 months.

The IMF provides EFF loan facilities to a country facing serious medium-term balance of payments problems because of structural weaknesses that require time to address.

Compared to assistance provided under the standby arrangement, assistance under an extended arrangement features longer programme engagement to help countries implement medium-term structural reforms and a longer repayment period.

In order to meet another condition of the IMF, the government had successfully managed to get the State Bank (Amendment) Bill, 2021, cleared from the Upper House of Parliament — which was the last stumbling block in reviving the stalled programme.

The next review (seventh) under the USD 6 billion EFF programme will be due in April 2022.The last and final eighth review is expected to be done in September 2022.

Pakistan had also already accepted two conditions of the IMF. It increased the electricity prices by Rs 1.68 per unit or up to 14 per cent and also jacked up the petroleum products prices to the new historical level of Rs137.79 per litre.

Taliban reopen universities for Afghan women in 2 provinces

Friday February 4, 2022

The Taliban has said that they have reopened public universities for women students in two of Afghanistan's 34 provinces, a

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US-based thinktank urges Biden to reject appointment of 'Jihadi-terrorist-sympathizer' Masood Khan

Friday February 4, 2022

Foundation for India and Indian Diaspora Studies (FIIDS), a US-based think tank for US-India policy studies and

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Exim Bank extends LOC of USD 500 million to Sri Lanka

Friday February 4, 2022

Export-Import Bank of India (Exim Bank) on Feb 3 has said it has extended a line of credit of USD 500 million to

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