ISLAMABAD: The World Bank has approved $700 million in financing for Pakistan as part of a multi-year program designed to shore up the nation’s macroeconomic stability and improve public service delivery.
Macro
IMF says Pakistan’s economic gains fragile without structural fixes
ISLAMABAD: Structural reforms in Pakistan’s energy sector, state-owned enterprises and governance frameworks are essential to the success of the country’s $7 billion bailout program with the International Monetary Fund, a senior IMF official said, warning that macroeconomic vulnerabilities remain despite recent progress.
Pakistan plans $250mln debut Panda bond in January to tap China’s yuan market
ISLAMABAD: Pakistan is set to issue its first-ever Panda bond next month, aiming to raise the equivalent of $250 million as part of a broader $1 billion program, as the cash-strapped South Asian nation seeks to diversify its funding sources and reduce reliance on dollar-denominated debt.
Pakistan sees $927 million FDI in July–Nov, down 25 percent year-on-year
KARACHI: Foreign direct investment in Pakistan fell sharply in the first five months of the current fiscal year, underscoring the challenges facing the country’s economy as it grapples with persistent external financing needs.
Pakistan posts $100 million current account surplus in November on falling imports
KARACHI: Pakistan’s current account swung to a surplus of $100 million in November, the central bank said, as a drop in imports helped counter weaker exports and remittances.
SBP cuts interest rate by 50 basis points, defying IMF guidance
KARACHI: Pakistan’s central bank on Monday unexpectedly lowered its benchmark interest rate by 50 basis points to 10.5%, defying analyst expectations and recent IMF guidance to hold off on further easing amid risks to inflation and external balances.
Pakistan seeks GCC trade and capital as IMF-backed stabilisation takes hold
ISLAMABAD: Pakistan is ditching its reliance on foreign aid in favor of deeper trade and investment ties, particularly with Gulf Cooperation Council nations, as the South Asian economy stabilises after a bruising period of high inflation and external pressures, Finance Minister Muhammad Aurangzeb said.
Pakistan agrees to tougher tax measures, SOE reforms and mine more IMF conditions to keep bailout on track
KARACHI: Pakistan agreed to 11 new structural benchmarks with the International Monetary Fund, including fresh tax measures and spending cuts, after missing a raft of targets under its $7 billion bailout program, paving the way for a $1.2 billion disbursement.
IMF releases $1.2 billion tranche to Pakistan, lifting FX reserves
KARACHI: Pakistan received $1.2 billion from the International Monetary Fund after the lender approved reviews of the South Asian nation’s bailout programs, providing a boost to its foreign reserves amid efforts to stabilise the economy.
ADB says over 80pc of Pakistanis lack safe drinking water; per capita supply falls to two-thirds
ISLAMABAD: More than 80% of Pakistan’s population lacks access to safe drinking water, exacerbating waterborne diseases and straining resources amid rapid population growth, climate change and poor management, the Asian Development Bank said in a report released on Monday.