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Pakistan Economy

Volatile Political Situation In Pakistan Delaying IMF Deal: Report

Since the IMF only provides a part of the loan a borrower needs, it requires the borrower to show that it has pledges from other lenders to bridge the gap

15 March 2023

Cash-Starved Pakistan To Receive Another $1.3 Billion From China

Pakistan will get another $1.3 billion from all-weather ally China to shore up its fast-depleting forex reserves, Finance Minister Ishaq Dar said on Monday

04 March 2023

Pakistan Economic Woes

Cash-Starved Pakistan's Current Account Deficit Shrinks 90% to $0.24 Billion In January

Cash-strapped Pakistan's current account deficit shrank 90.2% to $0.24 billion in January from $2.47 billion in the same month last year, the data shared by the State Bank of Pakistan (SBP) showed on Monday

20 February 2023

Pakistan Finance Minister Ishaq Dar

Pakistan Finance Minister Ishaq Dar Hopeful Of Signing Bailout Deal With IMF This Week

Pakistan and the IMF have been holding virtual talks after the two sides held 10 days of intensive negotiations with an IMF delegation in Islamabad from January 31 to February 9, which failed to reach an agreement

09 March 2023

Pakistan Finance Minister Ishaq Dar

China Approves $700 Million Loan To Pakistan: Finance Minister Ishaq Dar

Pakistan has a chronic balance of payments problem which was exacerbated in the last year, with the country's forex reserves declining to critical levels

22 February 2023

Pakistan GDP (Representative Image)

Pakistan Government Approves New Tax On Power To Meet IMF Conditions

Finance Minister Ishaq Dar, who had led the Pakistan side in talks, told the media on Friday that prior actions were needed as the two sides would resume the talks in virtual mode from Monday

11 February 2023

Pakistan Economic Woes: A laborer carries boxes through a market in Peshawar, Pakistan.

Pakistan’s Economy Is In Tatters, But This Is The Time To Set Things Right

Since the beginning, Pakistan has lived beyond its means. Its strategic location during the Cold War helped the country receive generous military funding from the US. USAID had also poured in money for education, health and...

05 March 2023

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Pakistan Agrees To IMF Conditions, Staff-level Accord Still Pending: Finance Minister Dar

The Pakistan government has received a memorandum on the terms and conditions from the IMF for the completion of a USD 7 billion loan programme, Finance Minister Ishaq Dar said on Friday but acknowledged that both sides are...

10 February 2023

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10 February 2023
 IMF Delays Bailout Package For Pakistan, Discussions To Continue

 IMF Delays Bailout Package For Pakistan, Discussions To Continue

Pakistan's foreign exchange has dropped below USD 3 billion and is in desperate need of financial assistance and a bailout package from the IMF to prevent it...


10 February 2023
Cash-Strapped Pakistan Reaches Deal With IMF Over Stalled Bailout Package

Cash-Strapped Pakistan Reaches Deal With IMF Over Stalled Bailout Package

A meeting took place between Prime Minister Shehbaz Sharif and the International Monetary Fund (IMF) delegation, where the mission informed the premier about...


09 February 2023
Pakistan's Talks With IMF Over Bailout Package Hit A Snag: Report

Pakistan's Talks With IMF Over Bailout Package Hit A Snag: Report

According to a media report, cash-strapped Pakistan government's talks with the IMF to secure a bailout package to avert a nearing sovereign default hit a snag...


28 January 2023
IMF Finds Rs 2 Trillion Breach In Pakistan’s Budgetary Estimates

IMF Finds Rs 2 Trillion Breach In Pakistan’s Budgetary Estimates

According to sources, the IMF is currently asking Pakistani authorities to take additional taxation measures worth Rs 600 billion through a mini-budget


27 January 2023
Allah Is Responsible For Pakistan's Development, Says Pak Finance Minister 

Allah Is Responsible For Pakistan's Development, Says Pak Finance Minister 

The finance minister said, "they are trying their best to improve Pakistan's condition under Prime Minister Shehbaz Sharif's leadership"


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27 January 2023
Pakistan's Currency Plunges To Rs 262.6 Against US Dollar

Pakistan's Currency Plunges To Rs 262.6 Against US Dollar

According to the State Bank of Pakistan, when the market opened on Friday the currency fell by Rs 7.17 or 2.73 per cent from Thursday’s close


20 January 2023
Pakistan To Pay For Russian Oil In Currencies Of 'Friendly Countries'

Pakistan To Pay For Russian Oil In Currencies Of 'Friendly Countries'

The friendly countries were not named but likely include China which has close ties with both Pakistan and Russia


14 October 2022
Pakistan Finance Minister Ishaq Dar Heckled At Washington Airport, Called Thief, Liar

Pakistan Finance Minister Ishaq Dar Heckled At Washington Airport, Called Thief, Liar

Pakistan Finance Minister Ishaq Dar was in Washington for talks with international lenders. He was heckled at the airport and called thief and liar.


27 September 2022
New Estimates Place Pakistan's Flood Losses At $28 Billion

New Estimates Place Pakistan's Flood Losses At $28 Billion

About 1.8 to 2 million jobs have been lost due to the climate-change-induced calamity and average inflation in the cash-strapped country might touch the 23-25...


24 September 2022
Pakistan Seeking To Reschedule $10 Billion Worth Of Debt Owed To Paris Club: Report

Pakistan Seeking To Reschedule $10 Billion Worth Of Debt Owed To Paris Club: Report

This year, Pakistan is scheduled to return $1.1 billion of Paris Club debt out of the total of $10 billion. Some $400 million of Japanese debt is maturing this...


02 September 2022
High Food, Petrol Prices Can Trigger Protests In Pakistan: IMF

High Food, Petrol Prices Can Trigger Protests In Pakistan: IMF

Pakistan’s inflation measured by the consumer price index (CPI) accelerated to 27.3 per cent in August this year -- the level last seen in May 1975


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02 August 2022
Why Raghuram Rajan Believes India Will Not Be Next Sri Lanka, Pakistan

Why Raghuram Rajan Believes India Will Not Be Next Sri Lanka, Pakistan

The policy rate hikes that the RBI opted for would help in easing inflationary pressure, says the former RBI Governor


29 July 2022
S&P Downgrades Outlook On Pakistan's Long-Term Ratings To 'Negative'

S&P Downgrades Outlook On Pakistan's Long-Term Ratings To 'Negative'

The New York-based agency on Thursday affirmed its ‘B-’ long-term and ‘B’ short-term sovereign credit ratings on Pakistan


15 July 2022
International Community Will Not Let Cash-Strapped Pakistan To Become Sri Lanka: Report

International Community Will Not Let Cash-Strapped Pakistan To Become Sri Lanka: Report

The International Monetary Fund on Thursday confirmed that an agreement was reached with Pakistan, which is facing a serious economic crisis since last one year


13 July 2022
Debt-Ridden, Sipping Less Tea: Is Pakistan The Next Sri Lanka?

Debt-Ridden, Sipping Less Tea: Is Pakistan The Next Sri Lanka?

Pakistan is also reeling under a severe electricity crisis with both urban and rural areas across the country facing extended power outages


13 July 2022
Cash-Strapped Pakistan May Face Serious Economic Crisis Amid Fast-Depleting Forex Reserves

Cash-Strapped Pakistan May Face Serious Economic Crisis Amid Fast-Depleting Forex Reserves

The country’s external debt servicing rose to $10.886 billion in the first three quarters of 2021-22 compared to $13.38 billion in the entire FY21


01 July 2022
Pakistan Steeply Hikes Petroleum Prices Under Deal With IMF To Revive Bailout Programme

Pakistan Steeply Hikes Petroleum Prices Under Deal With IMF To Revive Bailout Programme

Prices of all petroleum products went up by about Rs14-19 per litre after the decision came into effect from midnight on Thursday


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