Pakistan Development Outlook says implementation of IMF-sponsored reform has been made more challenging by this monsoon’s catastrophic floods. By Muhammad Ali.
Macro
ADB to provide $2.3 to $2.5 billion for flood ravaged Pakistan
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.
SBP probes eight banks over possible forex manipulation
By Staff Reporter
ISLAMABAD: The State of Pakistan (SBP) on Tuesday said it has opened an investigation into alleged exchange rate manipulation by a goup of banks.
Flood-hit Pakistan should suspend debt repayments, says UN paper: FT
Monitoring Desk
NEW YORK: Pakistan should seek to suspend international debt repayments and restructure loans after devastating floods triggered a humanitarian emergency and imperiled the country’s finances, the Financial Times reported on Friday, citing a UN memorandum.
ADB says Pakistan economy to slow in 2023 amid strong climate headwinds
By Staff Reporter
ISLAMABAD: Pakistan’s economy is forecast to slow to 3.5 percent in the current fiscal year amid devastating floods, policy tightening, and critical efforts to tackle sizable fiscal and external imbalances, even as growth in FY2022 is expected to have reached 6.0 percent, the Asian Development Bank (ADB) said on Wednesday.
ADB says working quickly to provide significant relief package to flood-hit Pakistan
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.
IMF to work with international community to support flood-ravaged Pakistan
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Sunday it would work with the international community to support Pakistan’s relief and reconstruction efforts following the catastrophic floods.
Saudi Arabia confirms rollover of $3bn deposit maturing in December for one year: SBP
By Staff Reporter
KARACHI: Saudi Arabia renewed a $3 billion deposit at Pakistan’s central bank to bolster the south Asian state’s depleting foreign reserves, the central bank said on Sunday.
Loan-hungry Pakistan keen to secure $1.5bn ADB programme as other inflows dry up
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.
MIFTAH ISMAIL: The Minister for Finance held a presser Sunday; File Photo courtesy APP
Does Miftah Ismail have a future as economic czar?
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