By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Sunday has called for greater policy support from the International Monetary Fund (IMF) and multilateral donors in the backdrop of the climate-induced catastrophe and losses suffered by the country.
By Staff Reporter
ISLAMABAD: Rating agency Moody’s on Tuesday downgraded the long-term deposit ratings of five Pakistani banks to Caa1 from B3.
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Monday kept its benchmark interest rate on hold at 15 percent, opting to leave borrowing costs unchanged despite soaring inflation as it warned of a further economic slowdown dure to catastrophic floods.
By Staff Reporter
ISLAMABAD: The finance ministry has rejected Moody’s decision to downgrade Pakistan’s sovereign credit rating to Caa1 — very high credit risk status — as ‘unilateral’ and ‘not truly reflective of the country’s macroeconomic conditions”.
By Staff Reporter
ISLAMABAD: The Asian Development Bank on Wednesday said it will provide $2.3 to $2.5 billion for relief operations in the wake of devastating floods in Pakistan that have affected more than 33 million people.
By Staff Reporter
KARACHI: Pakistan’s largest bank, Habib Bank Limited (HBL), faces secondary liabilities in a terror financing case in the US in which the plaintiffs had alleged that it aided and abetted Al Qaeda terrorism and joined a conspiracy to launch attacks that killed or injured 370 people.
By Staff Reporter
ISLAMABAD: The Asian Development Bank on Tuesday said it was working “quickly” to provide a “significant” relief and rehabilitation package to the flood-hit Pakistan.
By Staff Reporter
ISLAMABAD: As the possibility of any immediate financing from multilateral creditors for the cash-strapped energy sector remains elusive, the government is exploring alternatives to secure programme loans for other sectors of the economy.
The Finance Minister may be unpopular among his colleagues, but Prime Minister Sharif is stuck with him as Ishaq Dar is not returning any time soon. By Muhammad Ali
By Staff Reporter
ISLAMABAD: The government has sharply cut its economic forecast for the current fiscal year and signals its readiness to ease further if damage from the ongoing catastrophic floods proves more devastating.
