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SAN JUAN, Puerto Rico (AP) — Tropical Storm Lee strengthened into a hurricane on Wednesday as it churned through the open waters of the Atlantic on a path that would take it near the northeast Caribbean. The hurricane was located about 1,130 miles (1,815 kilometers) east of the northern Leeward Islands. It had maximum sustained winds of 75 mph (120 kph) and was moving west-northwest at 14 mph (22 kph), according to the National Hurricane Center. “It has the potential to become a powerhouse Category 5 hurricane, the strongest hurricane of the year,” said Jonathan Porter, chief meteorologist for AccuWeather. Lee is the 12th named storm of the Atlantic hurricane season, which runs from June 1 to Nov. 30.

Persons: Lee, Maria, Irma, ”, Jonathan Porter, Jova Organizations: JUAN, National Hurricane Center, British Virgin Islands, AccuWeather, Atlantic, National Weather Service, Atmospheric Administration Locations: Puerto Rico, Leeward, British Virgin, U.S, San Juan, Mexico, Baja California

☆ Pakistan's Imran Khan expresses support for bailout deal in IMF meeting
▼ + stars: | 2023-07-07 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +4 min

Hammad Azhar, a former finance minister under Khan, who attended the meeting virtually, said in a post on Twitter that the former premier and his economic team had discussed last week's staff-level deal between the IMF and Pakistan's government. The new deal, which will be vital to help stabilise Pakistan's struggling $350 billion economy, will be taken up for approval by the IMF board on July 12. Khan's government deviated from agreements under an earlier IMF programme days before he was ousted in a parliamentary vote last year, leading to a delay in the implementation of the programme and increased economic uncertainty. The meeting is the highest profile engagement for Khan and his the PTI since he was ousted from power less than four years into his five-year term. Many of Khan's key aides remain under arrest and many others, like Azhar, are in hiding.

Persons: Khan, Imran Khan, Hammad Azhar, Azhar, Nathan Porter, Esther Perez Ruiz, Shehbaz Sharif, Gibran Peshimam, William Maclean, David Holmes Organizations: International Monetary Fund, IMF, Twitter, Mission, Khan's, PTI, Thomson Locations: KARACHI, Pakistan, Lahore

☆ Pakistan, IMF reach staff-level pact to release stalled funds
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Press Information Department (PID)/Handout via REUTERS/File PhotoISLAMABAD, June 30 (Reuters) - The International Monetary Fund (IMF) reached a staff-level pact with the IMF on a $3-billion stand-by agreement, the lender said on Thursday, a decision long awaited by the South Asian nation, which is teetering on the brink of default. The deal, subject to approval by the IMF board, comes after an eight-month delay and offers some respite to Pakistan, which is battling an acute balance of payments crisis and falling foreign exchange reserves. "The new standby agreement builds on the authorities' efforts under Pakistan's 2019 Extended Fund Facility-supported program which expires end-June," said IMF official Nathan Porter. Reporting by Jahnavi Nidumolu; Writing by Shivam Patel and Asif Shahzad; Editing by Clarence Fernandez and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Shehbaz Sharif, Kristalina Georgieva, Nathan Porter, Jahnavi Nidumolu, Shivam Patel, Asif Shahzad, Clarence Fernandez, Himani Organizations: Pakistan, International Monetary Fund, Press Information Department, REUTERS, Monetary Fund, IMF, South, Thomson Locations: Paris, France, ISLAMABAD, Pakistan

☆ International Monetary Fund agrees on crucial $3 billion bailout to Pakistan
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: +2 min

In this photo International Monetary Fund (IMF) logo is seen in Washington D.C., United States on April 11, 2023. The International Monetary Fund, or IMF, has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default. "Praise be to God," tweeted Finance Minister Ishaq Dar after the deal was announced early on Friday. Pakistan will receive formal documents on the deal later on Friday from the IMF, Dar told Reuters, which he said he would "sign, seal and return by tonight." The country was awaiting the release of the remaining $2.5 billion from a $6.5 billion bailout package agreed in 2019, which expired on Friday.

Persons: Ishaq Dar, Dar, Nathan Porter Organizations: Monetary Fund, Washington D.C, South, IMF, Reuters Locations: Washington, United States, Pakistan, Ukraine

☆ IMF reaches $3 billion staff-level agreement with Pakistan
▼ + stars: | 2023-06-29 | by ( Rhea Mogul | ) edition.cnn.com time to read: 1 min

CNN —Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) for a crucial bailout that could help stabilize its flailing economy and lift the South Asian nation out of a crisis that has pushed millions to the brink. “I am pleased to announce that the IMF team has reached a staff-level agreement with the Pakistani authorities on a nine-month Stand-by Arrangement (SBA) in the amount of SDR2,250 million (about $3 billion),” Nathan Porter, who led the IMF staff team, said in a statement Thursday. The deal is subject to approval by the IMF’s executive board, which is expected by mid-July, the statement added. This is a breaking news story. More to come…

Persons: ” Nathan Porter Organizations: CNN, International Monetary Fund, IMF Locations: Pakistan

☆ Pakistan hopes for bailout decision in day or two as IMF seeks deal 'quickly'
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] Pakistan's Prime Minister Shehbaz Sharif attends a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023. "The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF," mission chief Nathan Porter said. Prime Minister Shehbaz Sharif said earlier in the day that he hoped consensus over the IMF programme's points "will lead to a decision in a day or two". The statement from the prime minister's office added that Sharif spoke to IMF Managing Director Kristalina Georgieva about the country's bailout funds, stalled since November. The IMF funds subject to approval by its board promise respite for Pakistan, which is battling its worst economic meltdown, with an acute balance of payments crisis and falling reserves of foreign exchange.

Persons: Shehbaz Sharif, Denis Balibouse, Ishaq Dar, Nathan Porter, Sharif, Kristalina Georgieva, Dar, Asif Shahzad, Ariba Shahid, Gibran Naiyyar Peshimam, Shivam Patel, Charlotte Greenfield, Krishna N, Das, William Maclean, Mark Potter Organizations: Pakistan's, United Nations, REUTERS, Pakistan, International Monetary Fund, IMF, Thomson Locations: Pakistan, Geneva, Switzerland, ISLAMABAD, Islamabad, Paris

An IMF review of the budget presents a fresh hurdle before the lender approves the release of pending bailout funds, which are crucial for Pakistan to resolve an acute balance of payments crisis. Pakistan has struggled to strike a deal with the IMF to release funds critical to stabilise the struggling economy. On Thursday, Finance Minister Mohammad Ishaq Dar reiterated that Pakistan has already taken all the agreed steps to unlock the funding. The $1.1 billion tranche is a part of a $6.5 billion bailout package the IMF approved in 2019, which is due to end in June, prior to the budget. The government has removed caps on the exchange rate, imposed taxes, raised energy tariffs, and scaled back subsidies in an attempt to unlock the IMF funding.

☆ IMF seeks more funding assurances before pact on Pakistan aid, Bloomberg reports
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: 1 min

April 15 (Reuters) - The International Monetary Fund is seeking "necessary" financing assurances from Pakistan as soon as possible to conclude a bailout pact with the South Asian nation, Bloomberg News reported on Saturday. Meetings between Pakistan and the IMF achieved agreement on the need to maintain strong policies and secure sufficient financing to support the country's implementation efforts during, the report said citing a statement from Nathan Porter, the fund's mission chief for Pakistan. The IMF is supporting these efforts and looks forward to obtaining the necessary financing assurances as soon as possible, the reported quoted Porter as saying in the statement. Reporting by Anirudh Saligrama in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistan, IMF agree on more talks, delaying bailout
▼ + stars: | 2023-02-10 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

KARACHI, Feb 10 (Reuters) - Pakistan and the International Monetary Fund have agreed to continue talks on a deal, delaying the disbursement of $1.1 billion in funding critical to keeping the South Asian economy afloat. "Virtual discussions will continue in the coming days," IMF Pakistan Mission Chief Nathan Porter said in a statement, adding that considerable progress had been made. To release the funds, the IMF needs to reach a staff-level agreement with Pakistan, which then needs to be approved by the IMF's head office in Washington. The money is necessary to prevent Pakistan from defaulting on external payment obligations, and an IMF deal paves the way for other organisations and governments to provide funds, analysts say. In addition to the stalled tranche, $1.4 billion remain of the $6.5 billion bailout programme, which is due to end in June.

☆ Northern California Battered Again With Heavy Rain, Snow
▼ + stars: | 2023-01-12 | by ( Alyssa Lukpat | Jim Carlton | ) www.wsj.com time to read: 1 min

Northern California was battered again Wednesday with heavy rain, as a relentless barrage of rain and snow continued. A series of storms since Christmas has hammered California, causing between $31 billion and $34 billion worth of damage and lost economic output, said Jonathan Porter , the chief meteorologist at AccuWeather Inc. Gov. Gavin Newsom said Tuesday that the storms would continue through Jan. 18.

The rapper Blueface was arrested Tuesday in Las Vegas on suspicion of attempted murder, police said. Blueface, 25, whose real name is Johnathan Porter, is suspected in an Oct. 8 shooting, police said. Details about the shooting were unavailable, and there was no online record yet Tuesday evening of Porter in the Clark County Detention Center. Blueface was born in Los Angeles and moved around the state as he grew up. He played football for Fayetteville State University in North Carolina before he focused on his music career.

☆ NASA left its $50 billion moon rocket exposed to Hurricane Nicole's powerful winds
▼ + stars: | 2022-11-12 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

NASA left its Space Launch System (SLS) rocket on the launchpad during Hurricane Nicole. The rocket sustained minor damage, and NASA still plans to launch it for the first time Wednesday. But it's unusual for NASA to leave such a valuable rocket out on the launchpad in the middle of a hurricane. NASA rolled the rocket out with a storm on the horizonSatellite imagery shows Tropical Storm Nicole on November 10, 2022. People walk by a closed down damaged boardwalk following the passage of Hurricane Nicole in Vero Beach, Florida, November 10, 2022.

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