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Pakistan Economic Crisis

Pakistan rupee notes

Pakistan Rupee Continues Free Fall, Depreciates 1.16% Against The US Dollar In Interbank & Open Market

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

17 August 2023

Pakistan secures a deal with the IMF

Pakistan Receives $ 1.2 Bn From IMF: Finance Minister Dar

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...

13 July 2023

Tradecurve

Debt-Trapped Pakistan Slashes Trade Deficit By 43 Per Cent In FY 23

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

05 July 2023

Chinas Foreign Minister Qin Gang

China Rolls Over $2.4 Billion Loan To Its Key Ally Pakistan

"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...

27 July 2023

Pakistan rupee notes

Cash-Strapped Pakistan Receives $2 Billion From Saudi Arabia: Finance Minister Dar

The Executive Board of the IMF is set to meet on July 12 to review the SBA for Pakistan

11 July 2023

Pakistan rupee notes

Pakistan Set To Become 4th Biggest IMF Debtor: Report

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),...

03 July 2023

Former Pakistan PM Imran Khan

Pak FM Bilawal, Blinken Discuss Pakistan’s Economic Recovery, Afghanistan

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...

25 July 2023

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The IMF

IMF Reaches Staff-Level Agreement With Pakistan On $3 Billion 'Stand-By Arrangement'

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...

30 June 2023

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28 June 2023
Pakistan, IMF Discussing $2.5 Billion 'Standby Arrangement'

Pakistan, IMF Discussing $2.5 Billion 'Standby Arrangement'

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...


26 June 2023
Cash-Strapped Pakistan's Parliament Approves Rs 14.48 Trillion Budget For 2023-24

Cash-Strapped Pakistan's Parliament Approves Rs 14.48 Trillion Budget For 2023-24

The government also agreed with the IMF's demand to cut its spending by Rs 85 billion.


21 June 2023
Pakistan's Government Unveils 'Economic Revival Plan', Focus On Capitalising Key Sectors' 'Untapped Potential'

Pakistan's Government Unveils 'Economic Revival Plan', Focus On Capitalising Key Sectors' 'Untapped Potential'

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,...


20 June 2023
Pakistan: Karachi Port Terminals May Be Given To UAE For Emergency Funds, Says Report

Pakistan: Karachi Port Terminals May Be Given To UAE For Emergency Funds, Says Report

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...


19 June 2023
Pakistan's Ex-Central Bank Chief Worried About Country's Looming Default

Pakistan's Ex-Central Bank Chief Worried About Country's Looming Default

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...


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16 June 2023
Pak FM Dar Blames Geopolitics For Stalled IMF Loan

Pak FM Dar Blames Geopolitics For Stalled IMF Loan

He said no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been pending since November.


15 June 2023
IMF Raises Issues With Pakistan's FY23-24 Budget; Calls It 'Missed Opportunity'

IMF Raises Issues With Pakistan's FY23-24 Budget; Calls It 'Missed Opportunity'

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...


15 June 2023
Shell Petroleum Company To Exit From Pakistan Amidst Economic Uncertainty

Shell Petroleum Company To Exit From Pakistan Amidst Economic Uncertainty

The SPCo holds about 77 per cent stake in Shell Pakistan, the local company carrying out the business.


14 June 2023
Pakistan Seeks Fast-Track Refinancing Of $ 1.3 Billion Loans From China

Pakistan Seeks Fast-Track Refinancing Of $ 1.3 Billion Loans From China

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...


12 June 2023
New Pakistan Budget Will Do Little To Allay IMF Concerns: Experts

New Pakistan Budget Will Do Little To Allay IMF Concerns: Experts

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....


12 June 2023
All Conditions Met, No Hurdle Left In Striking Deal With IMF: Pak PM Shehbaz Sharif

All Conditions Met, No Hurdle Left In Striking Deal With IMF: Pak PM Shehbaz Sharif

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...


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06 June 2023
Pakistan Govt's Debt Swells To Rs 58.6 Trillion

Pakistan Govt's Debt Swells To Rs 58.6 Trillion

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...


02 June 2023
Pakistan's Inflation Rises To Record 37.97 Per Cent

Pakistan's Inflation Rises To Record 37.97 Per Cent

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...


22 April 2023
Pakistan, Saudi Arabia Expected To Sign Deal For $2 Billion Deposits After Eid

Pakistan, Saudi Arabia Expected To Sign Deal For $2 Billion Deposits After Eid

Saudi Arabia had already rolled over $3 billion in deposits for one year, which matured on December 5, 2022


10 April 2023
Remittances Sent By Pakistani Expats Reach $2.5 Billion In March: Central Bank

Remittances Sent By Pakistani Expats Reach $2.5 Billion In March: Central Bank

Pakistan and the IMF have been negotiating the programme's resumption for months but have yet to reach an agreement


01 April 2023
Pakistan Govt Predicts Increased Inflation, Economic Slowdown: Report

Pakistan Govt Predicts Increased Inflation, Economic Slowdown: Report

Cash-strapped Pakistan government has warned of more inflation coupled with a slowdown of the economy


31 March 2023
China Rolls Over $2 Billion As Loan To Pakistan: Finance Minister Ishaq Dar

China Rolls Over $2 Billion As Loan To Pakistan: Finance Minister Ishaq Dar

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


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