By Staff Reporter
ISLAMABAD: Pakistan borrowed $8.613 billion from various sources, including $900 million from foreign commercial banks, in the first 11 months of the 2022-23 fiscal year, down 36 percent from the same period a year earlier, official data showed on Tuesday.
By Staff Reporter
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Tuesday thanked China for its financial support during the country’s economic challenges, as a $6.7 billion International Monetary Fund (IMF) bailout programme remains stalled.
By Staff Reporter
ISLAMABAD: The government announced on Tuesday a new strategy to boost the country’s economy, which has been battered by high inflation, interest rates and dwindling foreign exchange reserves.
By Staff Reporter
KARACHI: Pakistan posted a current account surplus of $255 million in May, compared with a deficit of $1.5 billion in the same month last year, the central bank said on Monday, as a sharp fall in imports and a rise in exports helped improve the country’s external balance.
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) is unlikely to deliver the stalled tranche to Pakistan before its bailout program ends at the end of June, increasing the risk of default, according to Bloomberg’s Pakistan Insight report.
By Staff Reporter
ISLAMABAD: Pakistan has bought Russian crude oil for the first time, paying in Chinese yuan, but did not receive any special discount on the price, Russian and Pakistani officials said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s finance ministry on Friday defended the tax exemptions in the budget for next year, saying they are “triggers” for economic growth and that the country is “not dogmatic” about its spending plans, though it also shows a willingness to make adjustments after the International Monetary Fund (IMF) expressed its concerns.
By Staff Reporter
ISLAMABAD: Pakistan Finance Minister Ishaq Dar on Thursday accused geopolitics of being behind a stalled loan program with the International Monetary Fund (IMF), saying the Fund wanted Pakistan to default like Sri Lanka and then enter negotiations.
By Staff Reporter
KARACHI: Pakistan’s government has drawn criticism from the International Monetary Fund for its budget, which the fund said was inadequate to meet the objectives of its $6.7bn loan program, raising doubts over whether the country will be able to secure the next tranche of aid by the expiry of Fund’s programme at the end of June.
By Naveed Naqvi
ISLAMABAD: Pakistan is at an increased risk of failing to complete its $6.7 billion bailout program with the International Monetary Fund (IMF), which expires at the end of June, Moody’s Investors Service said on Wednesday.
