The Pakistani rupee dropped 1.16 per cent in the interbank market to close at Rs 294.93 against the US dollar, down by Rs 3.39, according to the State Bank of Pakistan data
Addressing the media, Dar said when the Standby Arrangement (SBA) was finalised, it was decided that USD 1.2 billion would be given upfront while the "balance amount" of USD 1.8 billion would be handed over after two reviews...
In the previous fiscal year 2022, the trade deficit had widened to a daunting USD 48.35 billion, causing concern about the country’s economic stability, The Express Tribune newspaper reported
"Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years: FY2023-24: US$1.2 billion FY2024-25: US$ 1.2 billion," Finance minister of...
The Executive Board of the IMF is set to meet on July 12 to review the SBA for Pakistan
Pakistan, which is facing its worst economic crisis since independence from Britain in 1947, was on March 31, 2023, ranked fifth in the list of countries with the highest borrowing from the International Monetary Fund (IMF),...
In a tweet last night, Blinken said that the US "supports a productive, democratic, and prosperous partnership with Pakistan" adding that he exchanged thoughts with Bilawal on supporting the country's "economic recovery and...
Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends...
Pakistan’s ninth review by the International Monetary Fund (IMF) under the 2019 Extended Fund Facility (EFF) for the release of a USD 1.2 billion tranche is...
The government also agreed with the IMF's demand to cut its spending by Rs 85 billion.
The ‘Economic Revival Plan’ was launched at a high-level meeting chaired by Prime Minister Shehbaz Sharif while Chief of Army Staff Gen Asim Munir,...
A handover deal is likely to happen between Pakistan and the United Arab Emirates regarding the Karachi port terminals to raise emergency funds. Reportedly to...
The remarks by Reza Baqir, the former governor of the State Bank of Pakistan came as he addressed the final session of the Pakistan Literature Festival, held...
He said no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been pending since November.
The government unveiled a Rs 14.4 trillion budget for 2023-24 in the National Assembly last week as it battled to fend off a looming default due to shrinking...
The SPCo holds about 77 per cent stake in Shell Pakistan, the local company carrying out the business.
The request was made on Monday by Finance Minister Ishaq Dar during a meeting with China’s Charge d’affaires Pang Chunxue, The Express Tribune newspaper...
The Pakistan government on Friday unveiled a Rs 14.4 trillion budget for 2023-24 as it battled to fend off a looming default due to shrinking foreign reserves....
Sharif's remarks came as many believe that Pakistan's chances for the revival of the current USD 6.5 billion IMF programme have almost diminished before it...
Pakistan's domestic debt amounted to Rs 36.5 trillion (62.3 per cent) while the external debt accounted for a 37.6 per cent share with Rs 22 trillion at the...
Pakistan, currently in the throes of a major political as well as economic crisis, is grappling with high external debt, a weak local currency and dwindling...
Saudi Arabia had already rolled over $3 billion in deposits for one year, which matured on December 5, 2022
Pakistan and the IMF have been negotiating the programme's resumption for months but have yet to reach an agreement
Cash-strapped Pakistan government has warned of more inflation coupled with a slowdown of the economy
Pakistan is scrambling to increase its forex reserves which are estimated to be at $4.8 billion after China refinanced $500 million a fortnight ago
