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.
Macro
Remittances fall 10 percent in May as grey market thrives
By Staff Reporters
KARACHI: Remittances from overseas workers fell 10 percent year-on-year and 4 percent month-on-month to $2.1 billion in May, as a widening gap between official and unofficial exchange rates lured more inflows into the grey market, central bank data showed on Tuesday.
Government says no plans to freeze foreign currency accounts
By Staff Reporter
ISLAMABAD: The government said it has no plans to freeze foreign currency accounts as its central bank’s reserves fell to $3.9 billion, enough to cover less than a month of imports.
SBP holds key rate at 21pc as inflation peaks
By Staff Reporter
KARACHI: Pakistan’s central bank on Monday held its key interest rate at a record 21 percent, as expected, suspending its monetary tightening campaign as the economy slows and inflation has peaked.
APP02-100623
ISLAMABAD: June 10 - Finance Minister Senator Mohammad Ishaq Dar addresses the Post Budget press conference at Ministry of Planning. APP/SAK/ABB
Dar says Pakistan to seek debt relief from bilateral lenders
By Staff Reporter
ISLAMABAD: Pakistan will ask some of its bilateral creditors to ease its debt repayment terms, Finance Minister Ishaq Dar said on Saturday, as the country faces uncertainty over completing an International Monetary Fund (IMF) bailout program that expires this month.
Pakistan hopes to finalise IMF bailout deal in June
By Staff Reporter
ISLAMABAD: Pakistan hopes to finalise a $1.1 billion tranche from the International Monetary Fund (IMF) bailout program by the end of June, Prime Minister Shehbaz Sharif said on Friday.
Dar says IMF’s ‘unfair treatment’ worsens Pakistan’s economic turmoil
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Friday criticised the International Monetary Fund (IMF) for delaying a bailout program for the country, saying it was “totally unfair” and had contributed to the economic turmoil.
Pakistan’s budget aims for growth under IMF scrutiny
By Staff Reporter
ISLAMABAD: Pakistan unveiled a budget on Friday that aims to boost economic growth to 3.5 percent in the next fiscal year, while keeping the budget deficit below 7 percent to meet the conditions of an International Monetary Fund (IMF) bailout program.
Pakistan’s economy shrinks, misses all targets in dismal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
Dar says new government should negotiate fresh IMF deal
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that the new elected government should negotiate a fresh deal with the International Monetary Fund (IMF) after the current programme ends in June.